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

Key Points

• Ascot Resources Ltd. shares fell 8.3% on Wednesday, trading at C$0.06 with significantly increased trading volume of 2,898,293 shares.
• BMO Capital Markets downgraded Ascot from a "strong-buy" to a "hold" rating, while Desjardins upgraded it to a "moderate buy."
• The company, with a market capitalization of C$52.26 million, is focused on gold and silver exploration in the Golden Triangle region of British Columbia.

Shares of Ascot Resources Ltd. (TSE:AOT - Get Free Report) traded down 8.3% on Wednesday . The company traded as low as C$0.06 and last traded at C$0.06. 2,898,293 shares changed hands during trading, an increase of 146% from the average session volume of 1,176,526 shares. The stock had previously closed at C$0.06.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets cut 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 fifty day simple moving average of C$0.07 and a 200 day simple 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.

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.