Barksdale Resources (CVE:BRO) Trading Up 23.4% – Here’s Why

Barksdale Resources Corp. (CVE:BRO)’s share price traded up 23.4% during trading on Tuesday . The company traded as high as C$0.30 and last traded at C$0.29. 4,510,667 shares traded hands during trading, an increase of 960% from the average daily volume of 425,452 shares. The stock had previously closed at C$0.23.

Analyst Ratings Changes

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

Barksdale Resources Stock Performance

The firm has a market cap of C$64.39 million, a PE ratio of -28.00 and a beta of -0.88. The company has a current ratio of 6.63, a quick ratio of 1.56 and a debt-to-equity ratio of 10.23. The business has a fifty day moving average price of C$0.19 and a 200 day moving average price of C$0.26.

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.