Ascot Resources (TSE:AOT) Stock Price Down 8.3% - Here's Why

Key Points

• Shares of Ascot Resources traded down 8.3%, closing at C$0.06, with trading volume significantly increased by 218% compared to average levels.
• Analyst ratings showed mixed sentiments, with Desjardins upgrading the stock to a "moderate buy," while BMO Capital Markets downgraded it to "hold."
• The company has a market cap of C$52.26 million with considerable financial metrics, including a high debt-to-equity ratio of 6.67 and a negative PE ratio of -2.86.

Ascot Resources Ltd. (TSE:AOT - Get Free Report)'s share price was down 8.3% during mid-day trading on Wednesday . The stock traded as low as C$0.06 and last traded at C$0.06. Approximately 3,754,472 shares were traded during trading, an increase of 218% from the average daily volume of 1,182,482 shares. The stock had previously closed at C$0.06.

Wall Street Analysts Forecast Growth

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.

Ascot Resources Price Performance

The company has a market capitalization of C$52.26 million, a PE ratio of -2.86 and a beta of 1.46. 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 firm has a 50-day moving average of C$0.07 and a two-hundred day moving average of C$0.10.

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.