Ascot Resources (TSE:AOT) Shares Down 18.2% - What's Next?

Key Points

• Ascot Resources Ltd. experienced a significant drop in stock price, trading down 18.2% to C$0.05, with trading volume increasing by 645% compared to the average.
• Following a recent downgrade from BMO Capital Markets, the company now has an average rating of "Hold" and a target price of C$0.15.
• Ascot Resources has a market cap of C$66.92 million and a high debt-to-equity ratio of 6.67, indicating potential financial risk.

Ascot Resources Ltd. (TSE:AOT - Get Free Report)'s share price fell 18.2% on Monday . The stock traded as low as C$0.05 and last traded at C$0.05. 9,348,892 shares changed hands during mid-day trading, an increase of 645% from the average session volume of 1,255,371 shares. The stock had previously closed at C$0.06.

Analyst Ratings Changes

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 investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of C$0.15.

Ascot Resources Stock Performance

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

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.