Banyan Gold (CVE:BYN) Hits New 1-Year High – Should You Buy?

Shares of Banyan Gold Corp. (CVE:BYN) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$1.67 and last traded at C$1.66, with a volume of 453458 shares changing hands. The stock had previously closed at C$1.49.

Analyst Ratings Changes

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

Banyan Gold Trading Up 10.7%

The firm’s 50-day moving average is C$1.38 and its 200-day moving average is C$1.21. The firm has a market cap of C$731.82 million, a price-to-earnings ratio of -117.86 and a beta of 2.65.

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.