Barksdale Resources (CVE:BRO) Stock Price Up 21.6% – Still a Buy?

Barksdale Resources Corp. (CVE:BRO)’s share price shot up 21.6% on Friday . The company traded as high as C$0.23 and last traded at C$0.23. Approximately 95,690 shares changed hands during 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 upgraded Barksdale Resources from a “hold” rating to a “moderate buy” rating and reduced their price objective for the company from C$0.40 to C$0.25 in a research report on Wednesday. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently 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 16.39, a quick ratio of 1.56 and a current ratio of 0.64. The stock has a market capitalization of C$47.40 million, a price-to-earnings ratio of -7.67 and a beta of -0.87. The business’s 50 day simple moving average is C$0.34 and its 200-day simple moving average is C$0.26.

Insider Activity

In other Barksdale Resources news, insider Medalist Capital Ltd. acquired 3,545,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of C$0.45 per share, with a total value of C$1,595,250.00. Following the acquisition, the insider directly owned 27,093,170 shares of the company’s stock, valued at C$12,191,926.50. This represents a 15.05% increase in their position. Corporate 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.