Barksdale Resources (CVE:BRO) Shares Down 6.3% – What’s Next?

Shares of Barksdale Resources Corp. (CVE:BRO) dropped 6.3% during mid-day trading on Monday . The stock traded as low as C$0.14 and last traded at C$0.15. Approximately 347,683 shares were traded during trading, a decline of 13% from the average daily volume of 398,038 shares. The stock had previously closed at C$0.16.

Analyst Ratings Changes

Separately, ATB Cormark Capital Markets raised Barksdale Resources from a “hold” rating to a “moderate buy” rating and dropped their price objective for the stock from C$0.40 to C$0.25 in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$0.25.

Barksdale Resources Stock Performance

The company has a current ratio of 7.29, a quick ratio of 1.56 and a debt-to-equity ratio of 9.74. The company’s 50-day moving average price is C$0.28 and its two-hundred day moving average price is C$0.26. The company has a market cap of C$33.35 million, a P/E ratio of -7.25 and a beta of -0.88.

Insider Buying and Selling

In other Barksdale Resources news, insider Medalist Capital Ltd. bought 839,330 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was acquired at an average cost of C$0.52 per share, with a total value of C$436,451.60. Following the completion of the purchase, the insider directly owned 27,932,500 shares in the company, valued at approximately C$14,524,900. This trade 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.