Ascot Resources (TSE:AOT) Stock Price Down 18.2% - Time to Sell?

Key Points

• Ascot Resources Ltd. experienced a significant **stock price drop of 18.2%**, closing at C$0.05 with a trading volume increase of **645%** from the average.
• BMO Capital Markets downgraded the stock from a **"strong-buy" to a "hold" rating**, contributing to its declining performance.
• The company has a **debt-to-equity ratio of 6.67** and a market capitalization of **C$66.92 million**, indicating potential financial instability.

Shares of Ascot Resources Ltd. (TSE:AOT - Get Free Report) fell 18.2% during mid-day trading on Tuesday . The stock traded as low as C$0.05 and last traded at C$0.05. 9,348,892 shares changed hands during trading, an increase of 645% from the average session volume of 1,255,371 shares. The stock had previously closed at C$0.06.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets lowered 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.com, the company presently has a consensus rating of "Hold" and an average target price of C$0.15.

Ascot Resources Stock Performance

The company has a current ratio of 0.23, a quick ratio of 1.73 and a debt-to-equity ratio of 6.67. The firm has a market capitalization of C$66.92 million, a price-to-earnings ratio of -0.16 and a beta of 0.15. The company has a 50-day moving average of C$0.06 and a 200-day moving average 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.