Barksdale Resources (CVE:BRO) Stock Falls 4.1% - Should You Sell?

Key Points

• Barksdale Resources shares fell 4.1% to C$0.23, with trading volume down 98% from the average daily level.
• ATB Cormark upgraded the stock to “speculative buy” and raised its price target from C$0.25 to C$0.30. The sole analyst covering the company rates it a Buy.
• Insider Medalist Capital purchased 6.9 million shares for approximately C$2.07 million, increasing its position by nearly 24%; insiders collectively own 2.44% of the company.

Barksdale Resources Corp. (CVE:BRO - Get Free Report)'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 traded hands during 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 Analysts Forecast Growth

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

Barksdale Resources Price Performance

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

Insider Buying and Selling

In other Barksdale Resources news, insider Medalist Capital Ltd. purchased 6,913,089 shares of the firm's stock in a transaction on Thursday, October 8th. The stock was purchased at an average cost of C$0.30 per share, for a total transaction of C$2,073,926.70. Following the acquisition, the insider owned 35,746,589 shares in the company, valued at approximately C$10,723,976.70. The trade was a 23.98% increase in their position. Company insiders own 2.44% of the company's stock.

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.

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