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

Key Points

• Ascot Resources Ltd. experienced a significant stock price drop of 18.2%, closing at C$0.05 after trading volumes surged by 645% compared to the average daily volume.
• BMO Capital Markets has downgraded Ascot Resources from a "strong-buy" to a "hold" rating, with a consensus price target set at C$0.15.
• The company's financial metrics include a high debt-to-equity ratio of 6.67 and a current ratio of 0.23, indicating potential liquidity issues.

Ascot Resources Ltd. (TSE:AOT - Get Free Report) shares traded down 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 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 Ratings Changes

Separately, BMO Capital Markets downgraded Ascot Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Ascot Resources has an average rating of "Hold" and a consensus target price 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 200 day simple moving average of C$0.09. The company has a market capitalization of C$66.92 million, a P/E 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.