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

Key Points

• Ascot Resources Ltd. saw its stock price plummet 18.2%, trading at C$0.05 with over 9 million shares exchanged, significantly above the usual volume.
• BMO Capital Markets downgraded Ascot's rating from "strong-buy" to "hold" amidst ongoing concerns, with a consensus price target of C$0.15.
• The company's financial metrics include a debt-to-equity ratio of 6.67, indicating potential financial instability, alongside a market capitalization of C$66.92 million.

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

Analyst Upgrades and Downgrades

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

Ascot Resources Stock Down 18.2%

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 firm has a fifty day moving average price of C$0.06 and a 200 day moving average price of C$0.09. 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.

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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