Insider Buying: Barksdale Resources (CVE:BRO) Insider Purchases C$2,073,926.70 in Stock

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

Barksdale Resources Stock Performance

CVE:BRO remained flat at C$0.29 during mid-day trading on Friday. 261,830 shares of the company traded hands, compared to its average volume of 505,920. The stock’s fifty day moving average is C$0.21 and its 200 day moving average is C$0.28. The company has a debt-to-equity ratio of 10.23, a current ratio of 6.63 and a quick ratio of 1.56. Barksdale Resources Corp. has a twelve month low of C$0.07 and a twelve month high of C$0.55. The company has a market cap of C$68.11 million, a price-to-earnings ratio of -29.00 and a beta of -1.74.

Analysts Set New Price Targets

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