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

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 dropped 18.2% during trading on Tuesday . The company traded as low as C$0.05 and last traded at C$0.05. Approximately 9,348,892 shares traded hands during mid-day 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 Analysts Forecast Growth

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

Ascot Resources Stock Performance

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

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.

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