Ascot Resources (TSE:AOT) Shares Down 9.1% - Time to Sell?

Key Points

• Ascot Resources Ltd. shares fell by 9.1% on Monday, trading at C$0.05, with a significant increase in volume at 3,499,249 shares traded.
• BMO Capital Markets downgraded Ascot's rating from "strong-buy" to "hold," with an average target price of C$0.15, reflecting cautious market sentiment.
• The company has a high debt-to-equity ratio of 6.67 and operates with a market cap of C$66.92 million, highlighting potential financial instability.

Ascot Resources Ltd. (TSE:AOT - Get Free Report)'s share price traded down 9.1% during mid-day trading on Monday . The company traded as low as C$0.05 and last traded at C$0.05. 3,499,249 shares changed hands during mid-day trading, an increase of 189% from the average session volume of 1,209,358 shares. The stock had previously closed at C$0.06.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets lowered Ascot Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of C$0.15.

Ascot Resources Stock Performance

The business has a fifty day simple moving average of C$0.06 and a two-hundred day simple moving average of C$0.09. The company has a market cap of C$66.92 million, a P/E ratio of -0.16 and a beta of 0.15. 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.