Ascot Resources (TSE:AOT) Trading Down 8.3% - What's Next?

Key Points

• Ascot Resources Ltd. shares dropped by 8.3% on Thursday, trading as low as C$0.06, with trading volume increasing by 218% compared to its average.
• BMO Capital Markets has downgraded Ascot's stock rating from "strong-buy" to "hold", while Desjardins upgraded it to a "moderate buy."
• The company's market capitalization stands at C$52.26 million, with a significant debt-to-equity ratio of 6.67, indicating potential financial constraints.

Shares of Ascot Resources Ltd. (TSE:AOT - Get Free Report) dropped 8.3% during trading on Thursday . The company traded as low as C$0.06 and last traded at C$0.06. Approximately 3,754,472 shares were traded during trading, an increase of 218% from the average daily volume of 1,182,482 shares. The stock had previously closed at C$0.06.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets downgraded shares of Ascot Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th.

Ascot Resources Price Performance

The company has a market cap of C$52.26 million, a PE ratio of -2.86 and a beta of 1.46. 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's fifty day simple moving average is C$0.07 and its 200-day simple moving average is C$0.10.

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.