Banyan Gold (CVE:BYN) Given a C$3.00 Price Target at Desjardins

Banyan Gold (CVE:BYN) has been assigned a C$3.00 price target by equities research analysts at Desjardins in a research note issued on Friday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 51.52% from the company’s current price.

Banyan Gold Stock Up 1.5%

Shares of CVE:BYN traded up C$0.03 during mid-day trading on Friday, reaching C$1.98. 207,629 shares of the stock were exchanged, compared to its average volume of 764,695. The stock’s 50 day simple moving average is C$1.64 and its 200-day simple moving average is C$1.45. Banyan Gold has a one year low of C$0.64 and a one year high of C$2.15. The company has a market cap of C$882.96 million, a P/E ratio of -495.00 and a beta of 2.80.

Insider Buying and Selling at Banyan Gold

In other news, Director David Rutt sold 60,000 shares of Banyan Gold stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of C$1.43, for a total value of C$85,800.00. Following the sale, the director directly owned 2,864,224 shares in the company, valued at C$4,095,840.32. This trade represents a 2.05% decrease in their ownership of the stock. Over the last three months, insiders have sold 170,000 shares of company stock worth $251,400. 17.73% of the stock is owned by company insiders.

About Banyan Gold

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.