Ascot Resources (TSE:AOT) Shares Down 27.8% - Here's Why

Ascot Resources Ltd. (TSE:AOT - Get Free Report) was down 27.8% on Wednesday . The stock traded as low as C$0.06 and last traded at C$0.07. Approximately 3,657,644 shares were traded during trading, an increase of 205% from the average daily volume of 1,200,001 shares. The stock had previously closed at C$0.09.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AOT shares. BMO Capital Markets cut Ascot Resources from an "outperform" rating to a "market perform" rating in a research note on Thursday. Desjardins raised Ascot Resources to a "moderate buy" rating in a research note on Wednesday, April 16th.

Ascot Resources Stock Up 8.3%

The company has a 50 day simple moving average of C$0.10 and a two-hundred day simple moving average of C$0.13. 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 company has a market capitalization of C$61.76 million, a P/E ratio of -3.38 and a beta of 1.46.

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.