Banyan Gold (CVE:BYN) Trading Down 7.9% – Here’s Why

Shares of Banyan Gold Corp. (CVE:BYN) traded down 7.9% on Thursday . The company traded as low as C$0.18 and last traded at C$0.18. 222,050 shares traded hands during mid-day trading, an increase of 165% from the average session volume of 83,938 shares. The stock had previously closed at C$0.19.

Banyan Gold Stock Performance

The firm’s 50-day moving average is C$0.20 and its 200 day moving average is C$0.20. The firm has a market capitalization of C$59.18 million, a PE ratio of -18.00 and a beta of 1.59.

Insiders Place Their Bets

In other Banyan Gold news, Director Tara Christie bought 250,000 shares of Banyan Gold stock in a transaction that occurred on Friday, October 25th. The shares were purchased at an average cost of C$0.22 per share, for a total transaction of C$55,000.00. 17.73% of the stock is currently owned by company 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.