Barksdale Resources (CVE:BRO) Trading Up 23.4% – Time to Buy?

Shares of Barksdale Resources Corp. (CVE:BRO) traded up 23.4% during trading on Tuesday . The stock traded as high as C$0.30 and last traded at C$0.29. Approximately 4,510,667 shares changed hands during mid-day trading, an increase of 960% from the average daily volume of 425,452 shares. The stock had previously closed at C$0.23.

Wall Street Analysts Forecast Growth

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

Barksdale Resources Stock Up 23.4%

The company has a current ratio of 6.63, a quick ratio of 1.56 and a debt-to-equity ratio of 10.23. The firm has a market capitalization of C$66.69 million, a price-to-earnings ratio of -29.00 and a beta of -0.88. The firm has a 50 day moving average price of C$0.19 and a two-hundred day moving average price of 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.