Ascot Resources (TSE:AOT) Shares Down 8.3% - Should You Sell?

Key Points

• Ascot Resources Ltd.'s shares fell by 8.3%, trading at C$0.06, with trading volume increasing by 218% compared to average daily volume.
• BMO Capital Markets downgraded Ascot's rating from "strong-buy" to "hold", while Desjardins upgraded it to a "moderate buy."
• The company has a debt-to-equity ratio of 6.67 and a market capitalization of C$52.26 million, indicating financial strain and investor caution.

Ascot Resources Ltd. (TSE:AOT - Get Free Report) shares were down 8.3% during trading on Wednesday . The company 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.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AOT shares. BMO Capital Markets cut Ascot Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Desjardins raised Ascot Resources to a "moderate buy" rating in a research report on Wednesday, April 16th.

Ascot Resources Trading Down 8.3%

The company has a debt-to-equity ratio of 6.67, a quick ratio of 1.73 and a current ratio of 0.23. The company has a market cap of C$52.26 million, a P/E ratio of -2.86 and a beta of 1.46. The stock has a 50-day moving average of C$0.07 and a two-hundred day moving average of C$0.10.

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.

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.