Ascot Resources (TSE:AOT) Stock Price Down 18.2% - Here's What Happened

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.

Ascot Resources Ltd. (TSE:AOT - Get Free Report)'s share price was down 18.2% on Tuesday . The company traded as low as C$0.05 and last traded at C$0.05. Approximately 9,348,892 shares were traded during trading, an increase of 645% from the average daily volume of 1,255,371 shares. The stock had previously closed at C$0.06.

Analysts Set New Price Targets

Separately, BMO Capital Markets cut shares of Ascot Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Ascot Resources currently has a consensus rating of "Hold" and a consensus target price of C$0.15.

Ascot Resources Price 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's 50-day moving average price is C$0.06 and its 200 day moving average price is C$0.09. The firm has a market cap of C$59.49 million, a price-to-earnings ratio of -0.14 and a beta of 0.15.

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.