Barksdale Resources (CVE:BRO) Insider Purchases 6,913,089 Shares of Company Stock

Barksdale Resources Corp. (CVE:BRO) insider Medalist Capital Ltd. acquired 6,913,089 shares of the stock in a transaction dated Thursday, October 8th. The stock was acquired at an average cost of C$0.30 per share, with a total value of C$2,073,926.70. Following the completion of the transaction, the insider owned 35,746,589 shares in the company, valued at approximately C$10,723,976.70. This represents a 23.98% increase in their position.

Barksdale Resources Stock Performance

Shares of CVE:BRO remained flat at C$0.29 during midday trading on Friday. The stock had a trading volume of 261,830 shares, compared to its average volume of 505,920. Barksdale Resources Corp. has a 12 month low of C$0.07 and a 12 month high of C$0.55. 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 stock has a fifty day moving average of C$0.21 and a 200 day moving average of C$0.28. The firm has a market capitalization of C$68.11 million, a price-to-earnings ratio of -29.00 and a beta of -1.74.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets upgraded Barksdale Resources from a “sector perform” rating to a “speculative buy” rating and increased their price target for the stock from C$0.25 to C$0.30 in a report on Wednesday, September 30th. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$0.30.

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.