Banyan Gold (CVE:BYN) Reaches New 52-Week High – Still a Buy?

Shares of Banyan Gold Corp. (CVE:BYN) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$1.25 and last traded at C$1.22, with a volume of 1698064 shares trading hands. The stock had previously closed at C$1.14.

Wall Street Analyst Weigh In

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

Banyan Gold Price Performance

The business has a 50-day moving average of C$0.94 and a 200-day moving average of C$0.69. The company has a market capitalization of C$499.04 million, a P/E ratio of -86.43 and a beta of 2.35.

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.