Barksdale Resources (CVE:BRO) Shares Up 15.2% – Here’s Why

Barksdale Resources Corp. (CVE:BRO) traded up 15.2% during trading on Tuesday . The stock traded as high as C$0.20 and last traded at C$0.19. Approximately 178,500 shares changed hands during trading, a decline of 55% from the average session volume of 395,849 shares. The stock had previously closed at C$0.17.

Analysts Set New Price Targets

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

Barksdale Resources Stock Up 21.2%

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 stock has a market cap of C$45.99 million, a price-to-earnings ratio of -20.00 and a beta of -0.88. The business’s 50 day moving average is C$0.19 and its 200 day moving average is C$0.26.

Barksdale Resources Company Profile

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.