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

Key Points

• Ascot Resources Ltd. shares have seen a significant decline, falling 8.3% to C$0.06, with trading volume increasing by 218% compared to average sessions.
• BMO Capital Markets has downgraded Ascot's stock from a "strong-buy" to a "hold" rating, while Desjardins has issued a "moderate buy" rating.
• The company holds a market capitalization of C$52.26 million with a high debt-to-equity ratio of 6.67 and negative earnings represented by a price-to-earnings ratio of -2.86.

Ascot Resources Ltd. (TSE:AOT - Get Free Report)'s stock price traded down 8.3% on Thursday . The stock traded as low as C$0.06 and last traded at C$0.06. 3,754,472 shares traded 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.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets downgraded Ascot Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of C$0.15.

Ascot Resources Stock Down 9.1%

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's 50-day simple moving average is C$0.07 and its 200 day simple moving average is C$0.10. The firm has a market cap of C$47.51 million, a P/E ratio of -2.60 and a beta of 1.46.

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.