Ascot Resources (TSE:AOT) Shares Down 20.7% – Here’s Why

Ascot Resources Ltd. (TSE:AOT)’s stock price fell 20.7% during mid-day trading on Saturday . The stock traded as low as C$0.12 and last traded at C$0.12. 5,826,493 shares traded hands during mid-day trading, an increase of 474% from the average session volume of 1,014,417 shares. The stock had previously closed at C$0.15.

Wall Street Analyst Weigh In

Several brokerages have commented on AOT. BMO Capital Markets cut their target price on Ascot Resources from C$1.25 to C$0.75 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Desjardins upgraded Ascot Resources to a “moderate buy” rating in a research note on Wednesday, November 20th.

Ascot Resources Trading Down 20.7 %

The firm has a 50 day simple moving average of C$0.18 and a 200 day simple moving average of C$0.24. 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 firm has a market capitalization of C$109.26 million, a PE ratio of -5.97 and a beta of 1.46.

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.