Banyan Gold (CVE:BYN) Trading 6.2% Higher – Here’s What Happened

Banyan Gold Corp. (CVE:BYN) shot up 6.2% during trading on Tuesday . The company traded as high as C$1.03 and last traded at C$1.03. 1,239,747 shares changed hands during trading, an increase of 69% from the average session volume of 731,752 shares. The stock had previously closed at C$0.97.

Analyst Ratings Changes

Separately, Canaccord Genuity Group set a C$2.25 price objective on shares of Banyan Gold and gave the stock a “moderate buy” rating in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$2.25.

Banyan Gold Stock Up 6.2%

The firm’s fifty day moving average price is C$0.89 and its 200-day moving average price is C$0.65. The stock has a market cap of C$424.80 million, a P/E ratio of -73.57 and a beta of 2.35.

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.