Ascot Resources (TSE:AOT) Trading Down 18.2% - Here's What Happened

Key Points

• Shares of Ascot Resources Ltd. (TSE:AOT) fell by 18.2% during trading, reaching a low of C$0.05 with a trading volume increase of 645%.
• BMO Capital Markets has downgraded Ascot Resources from a "strong-buy" rating to a "hold" rating, indicating a more cautious outlook for the stock.
• The company's financial metrics include a high debt-to-equity ratio of 6.67, suggesting potential financial risk, despite a market capitalization of C$66.92 million.

Ascot Resources Ltd. (TSE:AOT - Get Free Report) shares traded down 18.2% during mid-day trading on Tuesday . The stock traded as low as C$0.05 and last traded at C$0.05. 9,348,892 shares changed hands 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 lowered Ascot Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of C$0.15.

Ascot Resources Stock Performance

The company has a market capitalization of C$66.92 million, a P/E ratio of -0.16 and a beta of 0.15. The firm has a 50 day moving average price of C$0.06 and a two-hundred day moving average price of C$0.09. The company has a debt-to-equity ratio of 6.67, a quick ratio of 1.73 and a current ratio of 0.23.

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.