Barksdale Resources (CVE:BRO) Trading Up 23.4% – Time to Buy?

Barksdale Resources Corp. (CVE:BRO)’s share price traded up 23.4% during mid-day trading on Tuesday . The company traded as high as C$0.30 and last traded at C$0.29. 4,510,667 shares were traded during mid-day trading, an increase of 960% from the average daily volume of 425,452 shares. The stock had previously closed at C$0.23.

Analyst Upgrades and Downgrades

Separately, ATB Cormark Capital Markets raised Barksdale Resources from a “hold” rating to a “moderate buy” rating and lowered their target price for the company from C$0.40 to C$0.25 in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$0.25.

Barksdale Resources Stock Performance

The firm’s fifty day simple moving average is C$0.19 and its 200 day simple moving average is C$0.26. The company has a debt-to-equity ratio of 10.23, a current ratio of 6.63 and a quick ratio of 1.56. The company has a market capitalization of C$66.69 million, a price-to-earnings ratio of -29.00 and a beta of -0.88.

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.