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

Shares of Ascot Resources Ltd. (TSE:AOT - Get Free Report) fell 18.2% on Tuesday . The stock traded as low as C$0.05 and last traded at C$0.05. 9,348,892 shares traded hands during trading, an increase of 645% from the average session volume of 1,255,371 shares. The stock had previously closed at C$0.06.

Wall Street Analyst Weigh In

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

Ascot Resources Price Performance

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. The business has a 50 day simple moving average of C$0.06 and a 200-day simple moving average of C$0.09. The company has a debt-to-equity ratio of 6.67, a quick ratio of 1.73 and a current ratio of 0.23.

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.