Barksdale Resources (CVE:BRO) Shares Down 4.1% – Here’s What Happened

Barksdale Resources Corp. (CVE:BRO)’s share price fell 4.1% on Monday. The company traded as low as C$0.23 and last traded at C$0.23. 10,600 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 491,133 shares. The stock had previously closed at C$0.24.

Wall Street Analyst Weigh In

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

Barksdale Resources Trading Down 4.1%

The company has a debt-to-equity ratio of 10.23, a quick ratio of 1.56 and a current ratio of 6.63. The firm has a market capitalization of C$81.80 million, a P/E ratio of -23.50 and a beta of -1.74. The firm has a 50 day simple moving average of C$0.24 and a two-hundred day simple moving average of C$0.25.

Insider Activity at Barksdale Resources

In other news, insider Medalist Capital Ltd. bought 6,913,089 shares of the stock in a transaction dated Thursday, October 8th. The stock was bought at an average price of C$0.30 per share, for a total transaction of C$2,073,926.70. Following the completion of the acquisition, the insider directly owned 35,746,589 shares in the company, valued at approximately C$10,723,976.70. This trade represents a 23.98% increase in their position. 2.44% of the stock is currently owned by corporate insiders.

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.