Banyan Gold (CVE:BYN) Shares Down 3.9% – Time to Sell?

Shares of Banyan Gold Corp. (CVE:BYN) fell 3.9% during mid-day trading on Tuesday . The stock traded as low as C$1.31 and last traded at C$1.35. 863,346 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 919,504 shares. The stock had previously closed at C$1.40.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group raised Banyan Gold from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Strong Buy” and an average price target of C$2.25.

Banyan Gold Stock Performance

The stock has a market capitalization of C$575.66 million, a P/E ratio of -347.50 and a beta of 2.47. The firm has a fifty day moving average price of C$1.32 and a two-hundred day moving average price of C$1.15.

Banyan Gold Company Profile

Banyan Gold Corp. engages in the exploration and development of precious metals. The company explores for gold and silver deposits. It holds 100% interest in the AurMac project that consists of 506 quartz mineral claims covering an area of approximately 9,230 hectares located in the Mayo Mining District, Yukon Territory; Hyland gold project comprises of 927 quartz mineral claims covering an area of totaling 18,620 hectares located in the Watson Lake Mining District, Yukon Territory; and Nitra gold project, which consists of 1,442 claims covering an area of approximately 296 square kilometers located in the Mayo Mining District, Yukon Territory.