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

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) 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 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 Analysts Forecast Growth

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

Ascot Resources Stock Up 12.5%

The company has a quick ratio of 1.73, a current ratio of 0.23 and a debt-to-equity ratio of 6.67. The stock has a market cap of C$66.92 million, a PE ratio of -0.16 and a beta of 0.15. The business has a 50 day moving average price of C$0.06 and a 200 day moving average price of C$0.09.

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.