Barksdale Resources (CVE:BRO) Trading 15.2% Higher – Time to Buy?

Barksdale Resources Corp. (CVE:BRO)’s stock price was up 15.2% during mid-day trading on Tuesday . The company traded as high as C$0.20 and last traded at C$0.19. 178,500 shares were traded during trading, a decline of 55% from the average daily volume of 395,849 shares. The stock had previously closed at C$0.17.

Wall Street Analyst Weigh In

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

Barksdale Resources Stock Performance

The stock has a fifty day moving average of C$0.19 and a 200-day moving average of C$0.26. 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 market capitalization of C$45.99 million, a PE ratio of -20.00 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.