Banyan Gold (CVE:BYN) Stock Rating Upgraded by Canaccord Genuity Group

Key Points

• Canaccord Genuity upgraded Banyan Gold from a "moderate buy" to a "strong-buy", reflecting increased analyst confidence in the stock.
• Shares trade around C$1.41 with a 50‑day/200‑day SMA of C$1.15/C$0.90 and a 12‑month range of C$0.20–C$1.51; the company has a market cap of C$581.53 million, a negative P/E (-352.50) and a beta of 2.42, indicating volatility and lack of profitability.
• Banyan Gold is a precious‑metals explorer holding 100% interests in the AurMac, Hyland and Nitra projects in the Yukon, focused on gold and silver exploration and development.

Banyan Gold (CVE:BYN - Get Free Report) was upgraded by investment analysts at Canaccord Genuity Group from a "moderate buy" rating to a "strong-buy" rating in a research note issued on Tuesday,Zacks.com reports.

Banyan Gold Stock Performance

CVE BYN opened at C$1.41 on Tuesday. The stock has a 50-day simple moving average of C$1.15 and a 200 day simple moving average of C$0.90. Banyan Gold has a twelve month low of C$0.20 and a twelve month high of C$1.51. The stock has a market capitalization of C$581.53 million, a PE ratio of -352.50 and a beta of 2.42.

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.

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.