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

Banyan Gold (CVE:BYN) received a C$3.00 price target from stock analysts at Scotiabank in a research report issued to clients and investors on Monday, BayStreet reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 44.93% from the stock’s previous close.

Separately, Desjardins set a C$3.00 target price on shares of Banyan Gold and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$2.75.

Banyan Gold Stock Performance

BYN traded up C$0.10 during trading on Monday, reaching C$2.07. The company had a trading volume of 1,439,308 shares, compared to its average volume of 768,746. The firm’s 50-day simple moving average is C$1.65 and its 200 day simple moving average is C$1.46. The company has a market cap of C$923.10 million, a price-to-earnings ratio of -517.50 and a beta of 2.80. Banyan Gold has a 12-month low of C$0.64 and a 12-month high of C$2.15.

Insider Buying and Selling at Banyan Gold

In related news, Director David Rutt sold 60,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of C$1.43, for a total transaction of C$85,800.00. Following the transaction, the director directly owned 2,864,224 shares of the company’s stock, valued at approximately C$4,095,840.32. The trade was a 2.05% decrease in their ownership of the stock. Insiders sold a total of 170,000 shares of company stock worth $251,400 in the last quarter. Insiders own 17.73% of the company’s stock.

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.