Barksdale Resources (CVE:BRO) Upgraded by ATB Cormark Capital Markets to “Speculative Buy” Rating

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 report 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’ price target would suggest a potential upside of 35.14% from the company’s current price.

Barksdale Resources Trading Down 5.1%

CVE BRO traded down C$0.01 on Wednesday, hitting C$0.18. 8,000 shares of the stock were exchanged, compared to its average volume of 412,008. The company has a market capitalization of C$38.13 million, a price-to-earnings ratio of -6.17 and a beta of -0.87. The company’s 50-day moving average price is C$0.36 and its two-hundred day moving average price is C$0.26. The company has a debt-to-equity ratio of 16.39, a current ratio of 0.64 and a quick ratio of 1.56. Barksdale Resources has a 52-week low of C$0.07 and a 52-week high of C$0.55.

Insider Transactions at Barksdale Resources

In other Barksdale Resources news, insider Medalist Capital Ltd. bought 839,330 shares of the stock in a transaction on Thursday, May 21st. The shares were purchased at an average cost of C$0.52 per share, with a total value of C$436,451.60. Following the completion of the transaction, the insider directly owned 27,932,500 shares of the company’s stock, valued at C$14,524,900. This represents a 3.10% increase in their position. Corporate 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.