Ascot Resources (TSE:AOT) Trading Down 33.3% - Here's Why

Shares of Ascot Resources Ltd. (TSE:AOT - Get Free Report) fell 33.3% during mid-day trading on Wednesday . The stock traded as low as C$0.06 and last traded at C$0.06. 7,142,807 shares changed hands during trading, an increase of 475% from the average session volume of 1,242,210 shares. The stock had previously closed at C$0.09.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AOT. BMO Capital Markets cut Ascot Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Desjardins raised Ascot Resources to a "moderate buy" rating in a research note on Wednesday, April 16th.

Ascot Resources Stock Performance

The firm's 50-day moving average price is C$0.10 and its two-hundred day moving average price is C$0.13. 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 capitalization of C$61.76 million, a PE ratio of -3.38 and a beta of 1.46.

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.