Ascot Resources (TSE:AOT) Shares Down 18.2% - Here's Why

Key Points

• Ascot Resources Ltd. shares dropped 18.2% during trading, falling to C$0.05 from a previous close of C$0.06, with a trading volume increase of 645% compared to average session volume.
• BMO Capital Markets downgraded Ascot Resources from a "strong-buy" to a "hold" rating, amid a consensus rating of "Hold" and an average price target of C$0.15.
• The company holds various mining interests, including the Premier Gold Project and Red Mountain Project in the Golden Triangle region of British Columbia.

Ascot Resources Ltd. (TSE:AOT - Get Free Report)'s stock price fell 18.2% during trading on Tuesday . The stock traded as low as C$0.05 and last traded at C$0.05. 9,348,892 shares traded hands during 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 Upgrades and Downgrades

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

Ascot Resources Price Performance

The company has a market cap of C$66.92 million, a price-to-earnings 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. The company's fifty day moving average price is C$0.06 and its two-hundred day moving average price is C$0.09.

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.