Bayhorse Silver (CVE:BHS) Shares Up 22.2% – Should You Buy?

Shares of Bayhorse Silver Inc. (CVE:BHS) shot up 22.2% during trading on Monday . The company traded as high as C$0.06 and last traded at C$0.06. 934,828 shares were traded during trading, an increase of 41% from the average session volume of 660,964 shares. The stock had previously closed at C$0.05.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.21 price objective on Bayhorse Silver and gave the company a “buy” rating in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Bayhorse Silver has a consensus rating of “Buy” and a consensus price target of C$0.21.

Bayhorse Silver Trading Down 9.1%

The firm has a market capitalization of C$20.88 million, a P/E ratio of -2.50 and a beta of 2.31. The company has a quick ratio of 0.16, a current ratio of 0.59 and a debt-to-equity ratio of 503.12. The business has a 50-day moving average price of C$0.06 and a 200-day moving average price of C$0.09.

About Bayhorse Silver

Bayhorse Silver Inc, a junior natural resource company, engages in the acquisition, exploration, and development of natural resource properties. It explores for silver, gold, zinc, copper, antimony, lead, and other metals. The company holds a 100% interest in the Bayhorse Silver Mine Property located in Baker County, Oregon. It also entered into an option agreement to acquire an 80% interest in the Brandywine project located in British Colombia. The company was formerly known as Kent Exploration Inc and changed its name to Bayhorse Silver Inc in December 2013.