Barksdale Resources (CVE:BRO) Shares Down 12.8% – Time to Sell?

Barksdale Resources Corp. (CVE:BRO) traded down 12.8% on Tuesday . The company traded as low as C$0.20 and last traded at C$0.20. 151,830 shares were traded during trading, a decline of 63% from the average daily volume of 409,742 shares. The stock had previously closed at C$0.23.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets upgraded shares of Barksdale Resources from a “hold” rating to a “moderate buy” rating and decreased their price objective for the company from C$0.40 to C$0.25 in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$0.25.

Barksdale Resources Stock Down 25.5%

The firm has a 50-day moving average price of C$0.33 and a 200 day moving average price of C$0.26. The company has a debt-to-equity ratio of 9.74, a current ratio of 7.29 and a quick ratio of 1.56. The company has a market cap of C$36.07 million, a price-to-earnings ratio of -8.75 and a beta of -0.88.

Insider Transactions at Barksdale Resources

In other news, insider Medalist Capital Ltd. acquired 839,330 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were purchased at an average cost of C$0.52 per share, with a total value of C$436,451.60. Following the acquisition, the insider directly owned 27,932,500 shares in the company, valued at C$14,524,900. This represents a 3.10% increase in their position. 2.44% of the stock is owned by company 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.