Ascot Resources (TSE:AOT) Trading Down 18.2% - Should You Sell?

Key Points

• Ascot Resources Ltd. shares fell by 18.2% to C$0.05, with trading volume increasing by 557% compared to the average daily volume.
• BMO Capital Markets downgraded Ascot Resources from a "strong-buy" to a "hold" rating, with the company's average target price set at C$0.15.
• The company has a high debt-to-equity ratio of 6.67 and a current ratio of only 0.23, indicating a potential liquidity issue.

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

Analysts Set New Price Targets

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

Ascot Resources Price Performance

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

About Ascot Resources

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.