Ascot Resources (TSE:AOT) Trading Down 8.3% - Should You Sell?

Key Points

• Ascot Resources Ltd. experienced an 8.3% drop in its share price, closing at C$0.06 with a trading volume significantly above average at 3,754,472 shares.
• BMO Capital Markets downgraded Ascot from a "strong-buy" to a "hold" rating, while Desjardins recently upgraded the stock to a "moderate buy" rating.
• The company's market capitalization is C$52.26 million, with concerning financial metrics, including a price-to-earnings ratio of -2.86 and a high debt-to-equity ratio of 6.67.

Ascot Resources Ltd. (TSE:AOT - Get Free Report) shares dropped 8.3% during mid-day trading on Thursday . The company traded as low as C$0.06 and last traded at C$0.06. Approximately 3,754,472 shares traded hands during mid-day trading, an increase of 218% from the average daily volume of 1,182,482 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.

Ascot Resources Price Performance

The company has a fifty day moving average price of C$0.07 and a two-hundred day moving average price of C$0.10. The company has a current ratio of 0.23, a quick ratio of 1.73 and a debt-to-equity ratio of 6.67. The company has a market cap of C$52.26 million, a price-to-earnings ratio of -2.86 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.