Ascot Resources (TSE:AOT) Trading Down 18.2% - Here's Why

Key Points

• Ascot Resources Ltd.'s stock price experienced a significant drop of 18.2%, trading at C$0.05 after reaching a trading volume of 9,348,892 shares, which is up by 645% from its average session volume.
• BMO Capital Markets has downgraded the company's rating from "strong-buy" to "hold", reflecting a shift in analyst sentiment.
• Currently, Ascot Resources holds an average price target of C$0.15, with its market capitalization at approximately C$66.92 million.

Shares of Ascot Resources Ltd. (TSE:AOT - Get Free Report) were down 18.2% during trading on Monday . The company traded as low as C$0.05 and last traded at C$0.05. Approximately 9,348,892 shares were traded during mid-day trading, an increase of 645% from the average daily volume of 1,255,371 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. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Ascot Resources has an average rating of "Hold" and an average target price of C$0.15.

Ascot Resources Stock Performance

The company has a market capitalization of C$59.49 million, a P/E ratio of -0.14 and a beta of 0.15. The company has a debt-to-equity ratio of 6.67, a current ratio of 0.23 and a quick ratio of 1.73. The company has a fifty day moving average price of C$0.06 and a two-hundred day moving average price of C$0.09.

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.