Barksdale Resources (CVE:BRO) Stock Price Up 21.6% – Here’s Why

Barksdale Resources Corp. (CVE:BRO) shares traded up 21.6% during mid-day trading on Friday . The stock traded as high as C$0.23 and last traded at C$0.23. Approximately 95,690 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 408,133 shares. The stock had previously closed at C$0.18.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets raised shares of Barksdale Resources from a “hold” rating to a “moderate buy” rating and decreased their price objective for the stock from C$0.40 to C$0.25 in a report on Wednesday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Barksdale Resources currently has an average rating of “Moderate Buy” and a consensus target price of C$0.25.

Barksdale Resources Trading Up 24.3%

The company has a debt-to-equity ratio of 16.39, a current ratio of 0.64 and a quick ratio of 1.56. The business’s fifty day simple moving average is C$0.34 and its 200 day simple moving average is C$0.26. The stock has a market cap of C$47.40 million, a price-to-earnings ratio of -7.67 and a beta of -0.87.

Insider Buying and Selling at Barksdale Resources

In other Barksdale Resources news, insider Medalist Capital Ltd. acquired 839,330 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was acquired at an average price of C$0.52 per share, with a total value of C$436,451.60. Following the transaction, the insider directly owned 27,932,500 shares in the company, valued at approximately C$14,524,900. This represents a 3.10% increase in their ownership of the stock. 2.44% of the stock is currently owned by corporate insiders.

About Barksdale Resources

Barksdale Resources Corp. engages in the acquisition and exploration of precious and base metal mineral properties in the United States and Mexico. It primarily explores for copper, zinc, lead, silver, and gold ores. The company's primary asset is the Sunnyside property comprising of 286 unpatented mining claims covering approximately 5,223.71 acres located in the Patagonia Mountains of southern Arizona. It also holds interest in the San Antonio, the Four Metals, the Canelo, and the Goat Canyon projects located in Santa Cruz County, Arizona; and the San Javier property located in central Sonora, Mexico.