Barksdale Resources (CVE:BRO) Shares Up 7.7% – Here’s Why

Barksdale Resources Corp. (CVE:BRO)’s share price was up 7.7% during mid-day trading on Friday . The company traded as high as C$0.14 and last traded at C$0.14. 220,378 shares were traded during mid-day trading, a decline of 48% from the average session volume of 420,726 shares. The stock had previously closed at C$0.13.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets upgraded shares of Barksdale Resources from a “hold” rating to a “moderate buy” rating and reduced their target price for the stock from C$0.40 to C$0.25 in a research note on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$0.25.

Barksdale Resources Stock Up 19.2%

The stock has a market capitalization of C$35.65 million, a P/E ratio of -7.75 and a beta of -0.88. The company has a debt-to-equity ratio of 9.74, a current ratio of 7.29 and a quick ratio of 1.56. The stock has a fifty day moving average price of C$0.26 and a 200 day moving average price of C$0.26.

Barksdale Resources Company Profile

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.