Ascot Resources (TSE:AOT) Trading 2.7% Higher – Time to Buy?

Ascot Resources Ltd. (TSE:AOT)’s share price was up 2.7% during mid-day trading on Tuesday . The stock traded as high as C$0.19 and last traded at C$0.19. Approximately 150,602 shares traded hands during trading, a decline of 57% from the average daily volume of 353,931 shares. The stock had previously closed at C$0.19.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Raymond James cut shares of Ascot Resources from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from C$1.00 to C$0.15 in a research report on Tuesday, September 10th. BMO Capital Markets dropped their price target on Ascot Resources from C$1.25 to C$0.75 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Finally, Desjardins upgraded Ascot Resources to a “moderate buy” rating in a research report on Wednesday, November 20th.

Ascot Resources Stock Up 2.7 %

The company has a market capitalization of C$134.22 million, a price-to-earnings ratio of -19.00 and a beta of 1.46. The firm’s 50 day moving average price is C$0.20 and its two-hundred day moving average price is C$0.31. The company has a current ratio of 0.28, a quick ratio of 1.73 and a debt-to-equity ratio of 15.61.

Ascot Resources (TSE:AOT) last posted its earnings results on Friday, November 8th. The company reported C($0.02) earnings per share for the quarter. Ascot Resources had a negative return on equity of 0.83% and a negative net margin of 125.09%. The business had revenue of C$11.99 million for the quarter. Sell-side analysts anticipate that Ascot Resources Ltd. will post 0.1030303 earnings per share for the current fiscal year.

Ascot Resources Company Profile

Ascot Resources Ltd. engages in the exploration, evaluation, and development of mineral properties in the United States and Canada. It explores for gold, silver, copper, porphyry copper, molybdenum, and sand and gravel deposits. The Company's principal property includes two landholdings, including its 100% interests in the Premier Gold Project covering an area of approximately 8,133 hectares; and Red Mountain Project that covers an area of approximately 17,125 hectares located in British Columbia.