Barksdale Resources (CVE:BRO) Shares Down 12.8% – Here’s What Happened

Shares of Barksdale Resources Corp. (CVE:BRO) traded down 12.8% on Tuesday . The company traded as low as C$0.20 and last traded at C$0.20. 151,830 shares traded hands during trading, a decline of 63% from the average session volume of 409,742 shares. The stock had previously closed at C$0.23.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets raised Barksdale Resources from a “hold” rating to a “moderate buy” rating and reduced their price objective 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 given a Hold rating to the stock. According to MarketBeat, Barksdale Resources has a consensus rating of “Moderate Buy” and an average target price of C$0.25.

Barksdale Resources Price Performance

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 firm has a market capitalization of C$38.13 million, a P/E ratio of -9.25 and a beta of -0.88. The company’s 50 day moving average price is C$0.32 and its 200 day moving average price is C$0.26.

Insider Buying and Selling

In other news, insider Medalist Capital Ltd. bought 3,545,000 shares of the stock in a transaction dated Friday, May 15th. The stock was bought at an average cost of C$0.45 per share, with a total value of C$1,595,250.00. Following the purchase, the insider owned 27,093,170 shares of the company’s stock, valued at approximately C$12,191,926.50. This represents a 15.05% increase in their ownership of the stock. Insiders own 2.44% of the company’s stock.

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.