Ascot Resources (TSE:AOT) Shares Down 18.2% - Should You Sell?

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) shares fell 18.2% on Tuesday . The company traded as low as C$0.05 and last traded at C$0.05. 9,348,892 shares changed hands during mid-day 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 cut Ascot Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Ascot Resources has an average rating of "Hold" and a consensus price target of C$0.15.

Ascot Resources Stock Performance

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

Ascot Resources Company Profile

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.