Banyan Gold (CVE:BYN) Trading Down 5.2% – Here’s What Happened

Banyan Gold Corp. (CVE:BYN) shares traded down 5.2% during trading on Thursday . The company traded as low as C$1.08 and last traded at C$1.09. 741,181 shares changed hands during trading, a decline of 25% from the average session volume of 989,884 shares. The stock had previously closed at C$1.15.

Wall Street Analyst Weigh In

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

Banyan Gold Trading Down 5.2%

The stock has a market capitalization of C$451.42 million, a PE ratio of -272.50 and a beta of 2.38. The firm’s fifty day moving average price is C$1.19 and its two-hundred day moving average price is C$0.97.

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.