ATB Cormark Capital Markets Upgrades Barksdale Resources (CVE:BRO) to Speculative Buy

Barksdale Resources (CVE:BRO) was upgraded by research analysts at ATB Cormark Capital Markets from a “sector perform” rating to a “speculative buy” rating in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a C$0.25 target price on the stock, down from their prior target price of C$0.40. ATB Cormark Capital Markets’ target price indicates a potential upside of 35.14% from the company’s current price.

Barksdale Resources Price Performance

Barksdale Resources stock traded down C$0.01 during mid-day trading on Wednesday, hitting C$0.18. 8,000 shares of the company were exchanged, compared to its average volume of 412,008. The company has a market capitalization of C$38.13 million, a PE ratio of -6.17 and a beta of -0.87. The business has a fifty day moving average of C$0.36 and a 200 day moving average of C$0.26. Barksdale Resources has a 1-year low of C$0.07 and a 1-year high of C$0.55. The company has a quick ratio of 1.56, a current ratio of 0.64 and a debt-to-equity ratio of 16.39.

Insider Transactions at Barksdale Resources

In other Barksdale Resources news, insider Medalist Capital Ltd. purchased 3,545,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased 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 approximately C$12,191,926.50. This trade represents a 15.05% increase in their position. 2.44% of the stock is owned by corporate insiders.

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.