Banyan Gold (CVE:BYN) Upgraded to Strong-Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Banyan Gold (CVE:BYN) from a moderate buy rating to a strong-buy rating in a report issued on Tuesday,Zacks.com reports.

Banyan Gold Trading Down 5.7%

Shares of BYN traded down C$0.08 during trading hours on Tuesday, reaching C$1.33. 482,524 shares of the stock traded hands, compared to its average volume of 1,018,327. Banyan Gold has a 52 week low of C$0.20 and a 52 week high of C$1.51. The stock has a fifty day simple moving average of C$1.15 and a 200 day simple moving average of C$0.90. The company has a market cap of C$548.53 million, a price-to-earnings ratio of -332.50 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.