Banyan Gold (CVE:BYN) Shares Up 0.6% – Should You Buy?

Banyan Gold Corp. (CVE:BYN)’s share price was up 0.6% during trading on Wednesday. The company traded as high as C$1.68 and last traded at C$1.67. Approximately 462,698 shares changed hands during trading, a decline of 45% from the average daily volume of 839,744 shares. The stock had previously closed at C$1.66.

Analyst Ratings Changes

BYN has been the subject of a number of recent analyst reports. Desjardins upgraded Banyan Gold to a “moderate buy” rating in a report on Thursday, October 1st. National Bank Financial set a C$3.00 target price on Banyan Gold and gave the stock an “outperform” rating in a report on Wednesday, September 30th. Finally, Scotiabank set a C$3.00 target price on Banyan Gold and gave the stock an “outperform” rating in a research report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat, Banyan Gold currently has a consensus rating of “Buy” and an average price target of C$2.81.

Banyan Gold Trading Up 1.3%

The company has a 50 day moving average of C$1.87 and a 200 day moving average of C$1.58. The firm has a market cap of C$738.03 million, a price-to-earnings ratio of -390.00 and a beta of 2.74.

Insider Activity

In other Banyan Gold news, Director David Rutt sold 50,000 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of C$1.50, for a total value of C$75,000.00. Following the completion of the sale, the director directly owned 2,774,224 shares in the company, valued at C$4,161,336. This represents a 1.77% decrease in their ownership of the stock. Insiders sold 170,000 shares of company stock valued at $251,400 in the last ninety days. 17.73% of the stock is owned by corporate insiders.

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.