Barksdale Resources (CVE:BRO) Shares Up 15.2% – Should You Buy?

Barksdale Resources Corp. (CVE:BRO) shares traded up 15.2% on Tuesday . The stock traded as high as C$0.20 and last traded at C$0.19. 178,500 shares changed hands during trading, a decline of 55% from the average session volume of 395,849 shares. The stock had previously closed at C$0.17.

Analysts Set New Price Targets

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 company 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, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$0.25.

Barksdale Resources Trading Up 21.2%

The firm has a market cap of C$45.99 million, a price-to-earnings ratio of -20.00 and a beta of -0.88. The company has a quick ratio of 1.56, a current ratio of 6.63 and a debt-to-equity ratio of 10.23. The business’s fifty day moving average is C$0.19 and its two-hundred day moving average is 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.