Ascot Resources (TSE:AOT) Shares Down 4.2% - Here's Why

Key Points

• Ascot Resources Ltd. shares fell by 4.2%, trading at C$0.06, with a significant trading volume of over 2.5 million shares, marking a 115% increase from its average daily volume.
• BMO Capital Markets downgraded Ascot's rating from "strong-buy" to "hold", while Desjardins upgraded it to a "moderate buy."
• The company has a market capitalization of C$52.26 million and a notable debt-to-equity ratio of 6.67, indicating high leverage in its financial structure.

Shares of Ascot Resources Ltd. (TSE:AOT - Get Free Report) fell 4.2% during trading on Wednesday . The stock traded as low as C$0.06 and last traded at C$0.06. 2,528,278 shares changed hands during mid-day trading, an increase of 115% from the average session volume of 1,174,519 shares. The stock had previously closed at C$0.06.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets lowered shares of Ascot Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th.

Ascot Resources Stock Performance

The firm has a 50 day moving average price of C$0.07 and a 200 day moving average price of C$0.10. The stock has a market cap of C$52.26 million, a PE ratio of -2.86 and a beta of 1.46. The company has a quick ratio of 1.73, a current ratio of 0.23 and a debt-to-equity ratio of 6.67.

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.