Banyan Gold (CVE:BYN) Trading Down 2.5% – Time to Sell?

Banyan Gold Corp. (CVE:BYN) shares were down 2.5% during trading on Tuesday . The company traded as low as C$1.14 and last traded at C$1.18. Approximately 661,562 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 867,272 shares. The stock had previously closed at C$1.21.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upgraded Banyan Gold from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Strong Buy” and a consensus price target of C$2.25.

Banyan Gold Trading Up 8.8%

The business has a 50 day moving average of C$1.37 and a 200-day moving average of C$1.20. The stock has a market cap of C$549.98 million, a PE ratio of -88.57 and a beta of 2.65.

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.