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 dropped 8.3% during mid-day trading on Thursday . The stock traded as low as C$0.06 and last traded at C$0.06. Approximately 3,754,472 shares traded hands during mid-day 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

AOT has been the topic of several recent research reports. Desjardins upgraded shares of Ascot Resources to a "moderate buy" rating in a research report on Wednesday, April 16th. BMO Capital Markets lowered shares of Ascot Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th.

Ascot Resources Stock Performance

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 stock has a market cap of C$52.26 million, a price-to-earnings ratio of -2.86 and a beta of 1.46. The company's 50-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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.