Banyan Gold (CVE:BYN) PT Set at C$3.00 by National Bank Financial

Key Points

• National Bank Financial set a C$3.00 price target for Banyan Gold and maintained an “outperform” rating, implying 57.48% upside from the reported C$1.91 share price.
• Analyst sentiment is broadly positive: Desjardins and Scotiabank also set C$3.00 targets, while the consensus rating is “Buy” with an average price target of C$2.81.
• Banyan Gold shares traded down C$0.03, with the company valued at approximately C$849 million; insiders have sold 170,000 shares worth about C$251,400 over the past quarter.

Banyan Gold (CVE:BYN - Get Free Report) has been assigned a C$3.00 price target by equities research analysts at National Bank Financial in a research report issued to clients and investors on Wednesday, BayStreet reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's target price would indicate a potential upside of 57.48% from the company's current price.

Several other equities analysts also recently weighed in on the stock. Desjardins set a C$3.00 price target on shares of Banyan Gold and gave the company a "buy" rating in a report on Friday, September 11th. Scotiabank set a C$3.00 target price on shares of Banyan Gold and gave the company an "outperform" rating in a research note on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$2.81.

Banyan Gold Stock Performance

Shares of CVE BYN traded down C$0.03 during trading on Wednesday, hitting C$1.91. The company had a trading volume of 281,369 shares, compared to its average volume of 856,431. Banyan Gold has a 12 month low of C$0.64 and a 12 month high of C$2.20. The firm has a market capitalization of C$849.01 million, a P/E ratio of -476.25 and a beta of 2.80. The stock has a 50 day simple moving average of C$1.78 and a 200 day simple moving average of C$1.51.

Insider Activity at Banyan Gold

In other news, Director David Rutt sold 60,000 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of C$1.43, for a total value of C$85,800.00. Following the transaction, the director owned 2,864,224 shares of the company's stock, valued at approximately C$4,095,840.32. The trade was a 2.05% decrease in their ownership of the stock. Insiders have sold a total of 170,000 shares of company stock valued at $251,400 over the last quarter. 17.73% of the stock is currently owned by insiders.

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.

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