Banyan Gold (CVE:BYN) Hits New 12-Month High – Here’s Why

Banyan Gold Corp. (CVE:BYN)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as C$1.63 and last traded at C$1.62, with a volume of 1369428 shares traded. The stock had previously closed at C$1.50.

Analysts Set New Price Targets

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

Banyan Gold Stock Performance

The company has a market cap of C$579.80 million, a PE ratio of -350.00 and a beta of 2.36. The business’s 50-day moving average is C$1.30 and its 200 day moving average is C$1.08.

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.