Banyan Gold (CVE:BYN) Shares Down 7.5% – Should You Sell?

Banyan Gold Corp. (CVE:BYN) traded down 7.5% during mid-day trading on Monday . The stock traded as low as C$1.96 and last traded at C$1.96. 1,619,907 shares traded hands during mid-day trading, an increase of 92% from the average session volume of 845,122 shares. The stock had previously closed at C$2.12.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BYN shares. Scotiabank set a C$3.00 price target on Banyan Gold and gave the company an “outperform” rating in a research report on Monday, September 14th. National Bank Financial set a C$3.00 target price on shares of Banyan Gold and gave the company an “outperform” rating in a research note on Monday. Finally, Desjardins set a C$3.00 price target on shares of Banyan Gold and gave the stock a “buy” rating in a research note on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, Banyan Gold presently has a consensus rating of “Buy” and an average target price of C$2.81.

Banyan Gold Price Performance

The stock has a market cap of C$887.42 million, a PE ratio of -497.50 and a beta of 2.80. The company has a 50 day moving average price of C$1.73 and a two-hundred day moving average price of C$1.49.

Insiders Place Their Bets

In other news, Director David Rutt sold 50,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of C$1.50, for a total transaction of C$75,000.00. Following the transaction, the director directly owned 2,774,224 shares of the company’s stock, valued at C$4,161,336. This represents a 1.77% decrease in their position. In the last ninety days, insiders have sold 170,000 shares of company stock worth $251,400. 17.73% of the stock is currently 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.