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

Key Points

• Ascot Resources Ltd. experienced a significant stock price drop of 18.2% on Monday, trading at C$0.05, with a trading volume surge of 645% from the average.
• BMO Capital Markets has downgraded Ascot Resources from a "strong-buy" to a "hold" rating, contributing to a consensus average rating of "Hold" along with a target price of C$0.15.
• The company has a market cap of C$66.92 million and is primarily engaged in gold and silver exploration in British Columbia's Golden Triangle region.

Ascot Resources Ltd. (TSE:AOT - Get Free Report)'s share price dropped 18.2% on Monday . The company traded as low as C$0.05 and last traded at C$0.05. Approximately 9,348,892 shares traded hands 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.

Wall Street Analyst Weigh In

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 analyst has rated the stock with a Hold rating, According to MarketBeat.com, Ascot Resources presently has an average rating of "Hold" and a consensus price target of C$0.15.

Ascot Resources Price Performance

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 market cap of C$66.92 million, a price-to-earnings ratio of -0.16 and a beta of 0.15. The firm's 50 day simple moving average is C$0.06 and its 200-day simple moving average is C$0.09.

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.