Ascot Resources (TSE:AOT) Trading Down 9.1% - What's Next?

Key Points

• Ascot Resources shares fell by 9.1% to C$0.05, with trading volume increasing significantly to approximately 3.5 million shares.
• BMO Capital Markets downgraded Ascot Resources from a "strong-buy" to a "hold" rating, resulting in a consensus rating of "Hold" with an average target price of C$0.15.
• The company's market capitalization stands at C$66.92 million, and it reported a P/E ratio of -0.16 alongside a high debt-to-equity ratio of 6.67.

Ascot Resources Ltd. (TSE:AOT - Get Free Report) shares fell 9.1% on Monday . The stock traded as low as C$0.05 and last traded at C$0.05. 3,499,249 shares changed hands during mid-day trading, an increase of 189% from the average session volume of 1,209,358 shares. The stock had previously closed at C$0.06.

Analyst Ratings Changes

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

Ascot Resources Stock Performance

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