Banyan Gold (CVE:BYN) Shares Down 1.5% - Should You Sell?

Key Points

• Shares fell 1.5% to C$1.34 on Thursday with 291,126 shares traded, a 69% decline from average session volume.
• Canaccord Genuity upgraded Banyan to a "strong-buy"; the consensus rating is Strong Buy with an average price target of C$2.25.
• Banyan Gold is a Yukon-focused precious metals explorer with a market cap of ~C$555M, a negative P/E (-335) and a beta of 2.36, holding 100% interests in the AurMac, Hyland and Nitra projects.

Banyan Gold Corp. (CVE:BYN - Get Free Report)'s share price fell 1.5% during mid-day trading on Thursday . The stock traded as low as C$1.34 and last traded at C$1.34. 291,126 shares traded hands during trading, a decline of 69% from the average session volume of 931,910 shares. The stock had previously closed at C$1.36.

Analysts Set New Price Targets

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

Banyan Gold Trading Down 1.5%

The company has a market capitalization of C$554.95 million, a price-to-earnings ratio of -335.00 and a beta of 2.36. The company's 50 day simple moving average is C$1.22 and its 200-day simple moving average is C$1.03.

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.

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