Banyan Gold (CVE:BYN) Trading Down 2.9% – Here’s What Happened

Shares of Banyan Gold Corp. (CVE:BYN) were down 2.9% during mid-day trading on Tuesday . The stock traded as low as C$1.00 and last traded at C$1.02. Approximately 509,533 shares changed hands during trading, a decline of 51% from the average daily volume of 1,040,163 shares. The stock had previously closed at C$1.05.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group set a C$2.25 price objective on Banyan Gold and gave the company a “moderate buy” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$2.25.

Banyan Gold Stock Down 2.9%

The company has a fifty day moving average price of C$1.07 and a 200 day moving average price of C$0.83. The stock has a market cap of C$420.68 million, a PE ratio of -255.00 and a beta of 2.42.

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.