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

Key Points

• Ascot Resources Ltd. experienced a significant decline of 18.2% in its stock price, reaching a low of C$0.05 during trading on Tuesday.
• BMO Capital Markets downgraded Ascot's rating from "strong-buy" to "hold", reflecting concerns over its market performance.
• The stock has a market capitalization of C$66.92 million and an average target price among analysts of C$0.15, indicating a cautious outlook.

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

Wall Street Analyst Weigh In

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

Ascot Resources Stock Performance

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

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.