Banyan Gold (CVE:BYN) PT Set at C$3.00 by Scotiabank

Banyan Gold (CVE:BYN) received a C$3.00 target price from stock analysts at Scotiabank in a note issued to investors on Monday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 44.93% from the company’s current price.

Separately, Desjardins set a C$3.00 price objective on Banyan Gold and gave the company a “buy” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, Banyan Gold currently has a consensus rating of “Buy” and a consensus price target of C$2.75.

Banyan Gold Stock Up 5.1%

Shares of CVE:BYN traded up C$0.10 during trading on Monday, reaching C$2.07. 1,439,308 shares of the company traded hands, compared to its average volume of 768,746. The firm has a fifty day simple moving average of C$1.65 and a 200 day simple moving average of C$1.46. Banyan Gold has a 1-year low of C$0.64 and a 1-year high of C$2.15. The firm has a market cap of C$923.10 million, a P/E ratio of -517.50 and a beta of 2.80.

Insiders Place Their Bets

In related news, Director David Rutt sold 60,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of C$1.43, for a total transaction of C$85,800.00. Following the completion of the transaction, the director owned 2,864,224 shares of the company’s stock, valued at approximately C$4,095,840.32. The trade was a 2.05% decrease in their position. Over the last three months, insiders have sold 170,000 shares of company stock worth $251,400. 17.73% of the stock is owned by insiders.

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.