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

Key Points

• Ascot Resources Ltd. shares fell by 8.3% during trading, reaching a low of C$0.06 with a significant increase of 218% in trading volume compared to the average.
• 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 operates primarily in the gold and silver sectors, holding interests in the Premier Gold Project and Red Mountain Project in British Columbia's Golden Triangle region.

Shares of Ascot Resources Ltd. (TSE:AOT - Get Free Report) dropped 8.3% during mid-day trading on Thursday . 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 weighed in on the stock. Desjardins upgraded shares of Ascot Resources to a "moderate buy" rating in a report on Wednesday, April 16th. 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 business's 50 day moving average is C$0.07 and its 200-day moving average is C$0.10. 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 firm has a market capitalization of C$52.26 million, a price-to-earnings ratio of -2.86 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.