Ascot Resources (TSE:AOT) Shares Down 18.2% - Here's Why

Key Points

• Ascot Resources Ltd. shares dropped by 18.2% during trading on Tuesday, reaching a low of C$0.05, with trading volume significantly increasing to approximately 9.35 million shares.
• BMO Capital Markets downgraded the company's rating from "strong-buy" to "hold", closely aligning with a consensus target price of C$0.15.
• Ascot Resources currently has a market capitalization of C$66.92 million, alongside key financial ratios including a debt-to-equity ratio of 6.67 and a negative price-to-earnings ratio of -0.16.

Ascot Resources Ltd. (TSE:AOT - Get Free Report) shares dropped 18.2% on Tuesday . The company traded as low as C$0.05 and last traded at C$0.05. Approximately 9,348,892 shares were traded during trading, an increase of 645% from the average daily volume of 1,255,371 shares. The stock had previously closed at C$0.06.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets cut shares of Ascot Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Ascot Resources currently has a consensus rating of "Hold" and an average target price of C$0.15.

Ascot Resources Stock Performance

The stock's 50-day moving average is C$0.06 and its 200-day moving average is C$0.09. The stock has a market cap of C$66.92 million, a price-to-earnings ratio of -0.16 and a beta of 0.15. The company has a debt-to-equity ratio of 6.67, a current ratio of 0.23 and a quick ratio of 1.73.

Ascot Resources Company Profile

Ascot Resources Ltd is a development and exploration company. It is a focused gold and silver explorer with a portfolio of advanced and grassroots projects in the Golden Triangle region of British Columbia. It holds an interest in Premier Gold Project and Red Mountain Project. The company also has two other properties; Swamp Point, an aggregate project located in British Columbia on the Portland Canal, and Mt.