Banyan Gold (CVE:BYN) Sets New 52-Week High - Here's What Happened

Key Points

• Banyan Gold's stock hit a new 52-week high of C$1.53 on Monday, trading that price on volume of 1,132,556 shares after a prior close of C$1.37.
• Canaccord Genuity upgraded the shares to a strong-buy, and MarketBeat shows a consensus Strong Buy with an average target price of C$2.25.
• The junior explorer has a market capitalization of C$646.07 million, a negative P/E of -390, 50/200‑day moving averages of C$1.23/C$1.03, and holds multiple Yukon gold projects (AurMac, Hyland, Nitra).

Banyan Gold Corp. (CVE:BYN - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as C$1.53 and last traded at C$1.53, with a volume of 1132556 shares trading hands. The stock had previously closed at C$1.37.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group upgraded 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, Based on data from MarketBeat, Banyan Gold currently has a consensus rating of "Strong Buy" and an average target price of C$2.25.

Banyan Gold Price Performance

The stock has a market capitalization of C$646.07 million, a P/E ratio of -390.00 and a beta of 2.36. The firm's 50 day moving average price is C$1.23 and its 200 day moving average price is C$1.03.

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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