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

Banyan Gold (CVE:BYN) was upgraded by investment analysts at Canaccord Genuity Group from a “moderate buy” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Banyan Gold Trading Down 6.4%

CVE BYN traded down C$0.09 during trading on Tuesday, hitting C$1.32. 546,524 shares of the company’s stock were exchanged, compared to its average volume of 1,019,381. The stock’s 50 day moving average price is C$1.15 and its two-hundred day moving average price is C$0.90. Banyan Gold has a fifty-two week low of C$0.20 and a fifty-two week high of C$1.51. The company has a market cap of C$544.41 million, a PE ratio of -330.00 and a beta of 2.42.

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.