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 dropped 9.1% during trading on Monday . The company traded as low as C$0.05 and last traded at C$0.05. Approximately 5,492,249 shares traded hands during 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 cut Ascot Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of C$0.15.

Ascot Resources Price Performance

The stock has a market capitalization of C$66.92 million, a PE ratio of -0.16 and a beta of 0.15. The stock's 50 day moving average is C$0.06 and its two-hundred day moving average is C$0.09. The company has a debt-to-equity ratio of 6.67, a quick ratio of 1.73 and a current ratio of 0.23.

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.

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