Banyan Gold (CVE:BYN) Hits New 12-Month High – Should You Buy?

Banyan Gold Corp. (CVE:BYN) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$1.25 and last traded at C$1.22, with a volume of 1698064 shares trading hands. The stock had previously closed at C$1.14.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group set a C$2.25 target price on 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, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$2.25.

Banyan Gold Trading Up 7.0%

The stock’s 50 day moving average is C$0.92 and its two-hundred day moving average is C$0.68. The stock has a market capitalization of C$503.16 million, a price-to-earnings ratio of -87.14 and a beta of 2.35.

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.