Ascot Resources (TSE:AOT) Shares Down 9.1% - What's Next?

Key Points

• Ascot Resources Ltd. experienced a significant stock drop of 9.1% on Monday, trading as low as C$0.05 with a trading volume that increased by 350% compared to its daily average.
• BMO Capital Markets downgraded Ascot from a "strong-buy" to a "hold" rating, and analysts have set an average price target of C$0.15 for the stock.
• The company, which focuses on gold and silver exploration in British Columbia's Golden Triangle region, has a current market capitalization of C$66.92 million and a debt-to-equity ratio of 6.67.

Ascot Resources Ltd. (TSE:AOT - Get Free Report)'s stock price was down 9.1% on Monday . The company traded as low as C$0.05 and last traded at C$0.05. Approximately 5,492,249 shares changed hands during mid-day trading, an increase of 350% from the average daily volume of 1,220,042 shares. The stock had previously closed at C$0.06.

Analysts Set New Price Targets

Separately, 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. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of C$0.15.

Ascot Resources Stock Performance

The business's fifty day moving average is C$0.06 and its 200-day moving average is C$0.09. The stock has a market capitalization of C$66.92 million, a PE ratio of -0.16 and a beta of 0.15. The company has a quick ratio of 1.73, a current ratio of 0.23 and a debt-to-equity ratio of 6.67.

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.