Ascot Resources (TSE:AOT) Shares Down 6.9% – Here’s Why

Shares of Ascot Resources Ltd. (TSE:AOT) dropped 6.9% during trading on Friday . The company traded as low as C$0.13 and last traded at C$0.14. Approximately 852,519 shares traded hands during mid-day trading, a decline of 0% from the average daily volume of 852,598 shares. The stock had previously closed at C$0.15.

Wall Street Analyst Weigh In

AOT has been the subject of a number of research reports. 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 for the company in a research note on Tuesday, November 19th. Desjardins raised shares of Ascot Resources to a “moderate buy” rating in a research note on Wednesday, November 20th.

Ascot Resources Trading Down 20.7 %

The stock has a market capitalization of C$109.26 million, a P/E ratio of -5.97 and a beta of 1.46. 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’s fifty day moving average price is C$0.18 and its two-hundred day moving average price is C$0.24.

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.