Barksdale Resources (CVE:BRO) Trading 7.7% Higher – Still a Buy?

Barksdale Resources Corp. (CVE:BRO)’s stock price rose 7.7% during mid-day trading on Friday . The stock traded as high as C$0.14 and last traded at C$0.14. 220,378 shares traded hands during trading, a decline of 48% from the average daily volume of 420,726 shares. The stock had previously closed at C$0.13.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets upgraded Barksdale Resources from a “hold” rating to a “moderate buy” rating and decreased their target price for the stock from C$0.40 to C$0.25 in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Barksdale Resources has a consensus rating of “Moderate Buy” and a consensus target price of C$0.25.

Barksdale Resources Price Performance

The firm’s 50-day moving average is C$0.26 and its 200-day moving average is C$0.26. The company has a market capitalization of C$35.65 million, a PE ratio of -7.75 and a beta of -0.88. The company has a quick ratio of 1.56, a current ratio of 7.29 and a debt-to-equity ratio of 9.74.

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.