Ascot Resources (TSE:AOT) Shares Down 20.7% – What’s Next?

Ascot Resources Ltd. (TSE:AOT) shares dropped 20.7% on Saturday . The company traded as low as C$0.12 and last traded at C$0.12. Approximately 5,826,493 shares were traded during trading, an increase of 474% from the average daily volume of 1,014,417 shares. The stock had previously closed at C$0.15.

Wall Street Analysts Forecast Growth

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

Ascot Resources Price Performance

The stock’s 50-day moving average is C$0.18 and its 200 day moving average is C$0.24. The company has a debt-to-equity ratio of 6.67, a current ratio of 0.23 and a quick ratio of 1.73. The company has a market cap of C$109.26 million, a PE ratio of -5.97 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.