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

Barksdale Resources Corp. (CVE:BRO) shares shot up 21.6% during mid-day trading on Friday . The stock traded as high as C$0.23 and last traded at C$0.23. 95,690 shares changed hands during trading, a decline of 77% from the average session volume of 408,133 shares. The stock had previously closed at C$0.18.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets upgraded Barksdale Resources from a “hold” rating to a “moderate buy” rating and reduced their price objective for the stock 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 company’s stock. According to data from MarketBeat.com, Barksdale Resources has a consensus rating of “Moderate Buy” and an average target price of C$0.25.

Barksdale Resources Price Performance

The stock has a market cap of C$48.43 million, a P/E ratio of -7.83 and a beta of -0.87. The company has a current ratio of 7.29, a quick ratio of 1.56 and a debt-to-equity ratio of 9.74. The company’s fifty day simple moving average is C$0.34 and its 200-day simple moving average is C$0.26.

Insider Buying and Selling at Barksdale Resources

In other Barksdale Resources news, insider Medalist Capital Ltd. bought 839,330 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were acquired at an average cost of C$0.52 per share, for a total transaction of C$436,451.60. Following the transaction, the insider owned 27,932,500 shares in the company, valued at approximately C$14,524,900. The trade was a 3.10% increase in their ownership of the stock. Company 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.