Banyan Gold (CVE:BYN) Shares Down 5.2% - Should You Sell?

Key Points

• Shares were down 5.2%, trading as low as C$1.08 and last at C$1.09 on volume of 741,181 shares, about 25% below the average session volume.
• Canaccord Genuity upgraded Banyan to a Strong Buy, and the MarketBeat consensus rating is Strong Buy with a consensus price target of C$2.25.
• Banyan is a Yukon-focused gold and silver explorer with a market cap of C$451.42M, a negative PE of -272.50, and a beta of 2.38, indicating it's currently unprofitable and relatively volatile.

Banyan Gold Corp. (CVE:BYN - Get Free Report)'s share price traded down 5.2% on Thursday . The company traded as low as C$1.08 and last traded at C$1.09. 741,181 shares were traded during mid-day trading, a decline of 25% from the average session volume of 989,884 shares. The stock had previously closed at C$1.15.

Wall Street Analyst Weigh In

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

Banyan Gold Trading Down 5.2%

The company has a market cap of C$451.42 million, a PE ratio of -272.50 and a beta of 2.38. The firm's 50-day simple moving average is C$1.19 and its two-hundred day simple moving average is C$0.97.

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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