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

Key Points

• Ascot Resources' share price fell by 18.2% on Monday, reaching as low as C$0.05 with a significant increase in trading volume.
• BMO Capital Markets has downgraded Ascot Resources from a "strong-buy" to a "hold" rating, with a consensus target price of C$0.15.
• The company has a market capitalization of C$66.92 million and carries a debt-to-equity ratio of 6.67, indicating a high level of debt compared to equity.

Shares of Ascot Resources Ltd. (TSE:AOT - Get Free Report) traded down 18.2% during trading on Monday . 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.

Analyst Upgrades and Downgrades

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

Ascot Resources Price Performance

The firm has a 50-day moving average of C$0.06 and a 200 day moving average of C$0.09. The company has a market capitalization of C$59.49 million, a PE ratio of -0.14 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.

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.