Ascot Resources (TSE:AOT) Shares Down 8.3% - Here's Why

Key Points

• Ascot Resources Ltd. (TSE:AOT) experienced an 8.3% decline in share price during mid-day trading, with around 3.75 million shares exchanged, significantly above the average daily volume.
• Analysts have mixed views on the stock, with Desjardins upgrading it to a "moderate buy" while BMO Capital Markets downgraded it from "strong-buy" to "hold."
• The company's market capitalization stands at C$52.26 million, and it has notable liquidity metrics, including a quick ratio of 1.73.

Ascot Resources Ltd. (TSE:AOT - Get Free Report)'s share price traded down 8.3% during mid-day trading on Thursday . The stock traded as low as C$0.06 and last traded at C$0.06. 3,754,472 shares changed hands during trading, an increase of 218% from the average session volume of 1,182,482 shares. The stock had previously closed at C$0.06.

Analyst Ratings Changes

Separately, BMO Capital Markets downgraded 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 fifty day moving average of C$0.07 and a 200 day moving average of C$0.10. The firm has a market capitalization of C$52.26 million, a P/E ratio of -2.86 and a beta of 1.46. 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.