Barksdale Resources (CVE:BRO) Trading Down 14.6% – Here’s What Happened

Barksdale Resources Corp. (CVE:BRO) shares dropped 14.6% during trading on Monday . The stock traded as low as C$0.34 and last traded at C$0.35. 749,189 shares changed hands during mid-day trading, an increase of 64% from the average session volume of 456,414 shares. The stock had previously closed at C$0.41.

Barksdale Resources Stock Performance

The stock’s 50 day moving average price is C$0.37 and its 200 day moving average price is C$0.22. The company has a current ratio of 0.64, a quick ratio of 1.56 and a debt-to-equity ratio of 16.39. The company has a market cap of C$74.19 million, a price-to-earnings ratio of -12.00 and a beta of -1.36.

Insiders Place Their Bets

In related news, insider Medalist Capital Ltd. purchased 3,545,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were bought at an average price of C$0.45 per share, with a total value of C$1,595,250.00. Following the completion of the purchase, the insider directly owned 27,093,170 shares in the company, valued at approximately C$12,191,926.50. This trade represents a 15.05% increase in their position. 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.