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

Key Points

• Ascot Resources Ltd. saw its stock price decline by 18.2%, trading as low as C$0.05, significantly affected by increased trading volume surpassing the average by 645%.
• BMO Capital Markets downgraded Ascot's stock rating from "strong-buy" to "hold", with a consensus price target set at C$0.15.
• The company has a market cap of C$66.92 million and currently holds a debt-to-equity ratio of 6.67, indicating potential financial challenges.

Ascot Resources Ltd. (TSE:AOT - Get Free Report) dropped 18.2% during mid-day trading on Tuesday . The company traded as low as C$0.05 and last traded at C$0.05. Approximately 9,348,892 shares traded hands 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.

Analysts Set New Price Targets

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

Ascot Resources Stock Down 18.2%

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 business has a 50-day moving average price of C$0.06 and a 200-day moving average price of C$0.09. The firm has a market cap of C$66.92 million, a P/E ratio of -0.16 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.

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