Ascot Resources (TSE:AOT) Shares Down 12.5% – Here’s Why

Ascot Resources Ltd. (TSE:AOT)’s share price traded down 12.5% during trading on Wednesday . The stock traded as low as C$0.10 and last traded at C$0.11. 3,456,800 shares traded hands during trading, an increase of 173% from the average session volume of 1,264,597 shares. The stock had previously closed at C$0.12.

Wall Street Analysts Forecast Growth

AOT has been the topic of a number of recent analyst reports. BMO Capital Markets cut their target price on Ascot Resources from C$0.50 to C$0.15 in a research report on Friday, April 11th. Desjardins raised Ascot Resources to a “moderate buy” rating in a research report on Wednesday, April 16th.

Ascot Resources Stock Performance

The stock has a market capitalization of C$80.76 million, a P/E ratio of -4.41 and a beta of 1.46. The stock has a 50 day moving average of C$0.12 and a 200 day moving average of C$0.16. The company has a debt-to-equity ratio of 6.67, a quick ratio of 1.73 and a current ratio of 0.23.

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.