Banyan Gold (CVE:BYN) Reaches New 1-Year High - What's Next?

Key Points

• Banyan Gold hit a new 52-week high of C$1.63 (last C$1.62), trading up about 8.7% on roughly 1.37 million shares.
• Canaccord Genuity upgraded the stock to a strong-buy; the consensus rating is Strong Buy with an average price target of C$2.25.
• The explorer has a market cap of C$675.06M, is currently loss-making (PE -407.50) with a beta of 2.36, and holds Yukon gold projects including AurMac, Hyland and Nitra.

Banyan Gold Corp. (CVE:BYN - Get Free Report) reached a new 52-week high during mid-day 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. The stock had previously closed at C$1.50.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group raised shares of Banyan Gold from a "moderate buy" rating to a "strong-buy" rating in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Strong Buy" and an average price target of C$2.25.

Banyan Gold Stock Up 8.7%

The stock has a market capitalization of C$675.06 million, a PE ratio of -407.50 and a beta of 2.36. The firm has a 50 day moving average price of C$1.27 and a 200-day moving average price of C$1.06.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.