Banyan Gold (CVE:BYN) Trading 11.4% Higher - Should You Buy?

Key Points

• Banyan Gold Corp. (CVE:BYN) saw its stock price rise by 11.4%, trading as high as C$0.80 and last at C$0.78.
• Trading volume surged to approximately 1,880,927 shares, representing a 266% increase from the average daily volume.
• The company has a market cap of C$293.73 million and focuses on the exploration and development of gold and silver deposits in the Yukon Territory.

Banyan Gold Corp. (CVE:BYN - Get Free Report) shares shot up 11.4% on Monday . The company traded as high as C$0.80 and last traded at C$0.78. 1,880,927 shares were traded during trading, an increase of 266% from the average session volume of 514,499 shares. The stock had previously closed at C$0.70.

Banyan Gold Stock Down 3.8%

The business's 50-day moving average is C$0.44 and its two-hundred day moving average is C$0.31. The company has a market capitalization of C$282.55 million, a P/E ratio of -53.57 and a beta of 1.88.

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.