Ascot Resources (TSE:AOT) Trading Down 8.3% - Time to Sell?

Key Points

• Shares of Ascot Resources Ltd. (TSE:AOT) fell 8.3% on Thursday, with trading volume significantly exceeding the average volume.
• Analysts have expressed mixed opinions, with Desjardins upgrading the stock to a "moderate buy" while BMO Capital Markets downgraded it from "strong-buy" to "hold."
• The company's market capitalization is currently C$52.26 million, with a PE ratio of -2.86 and a debt-to-equity ratio of 6.67, indicating financial volatility.

Ascot Resources Ltd. (TSE:AOT - Get Free Report)'s share price dropped 8.3% during 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 Upgrades and Downgrades

Separately, BMO Capital Markets cut Ascot Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th.

Ascot Resources Stock Performance

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 stock has a fifty day simple moving average of C$0.07 and a 200 day simple moving average of C$0.10. The firm has a market capitalization of C$52.26 million, a P/E 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.