Banyan Gold (CVE:BYN) Sets New 1-Year High – Still a Buy?

Banyan Gold Corp. (CVE:BYN)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$1.35 and last traded at C$1.35, with a volume of 270651 shares. The stock had previously closed at C$1.28.

Wall Street Analysts Forecast Growth

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

Banyan Gold Price Performance

The stock’s 50-day moving average is C$1.09 and its 200 day moving average is C$0.86. The company has a market cap of C$556.78 million, a PE ratio of -337.50 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.