Ascot Resources (TSE:AOT) Shares Down 7.9% – Here’s Why

Ascot Resources Ltd. (TSE:AOT)’s share price was down 7.9% during trading on Monday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 598,090 shares traded hands during trading, a decline of 42% from the average daily volume of 1,038,010 shares. The stock had previously closed at C$0.19.

Analysts Set New Price Targets

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

Ascot Resources Stock Performance

The firm has a 50-day moving average price of C$0.21 and a 200 day moving average price of C$0.37. The firm has a market capitalization of C$123.62 million, a PE ratio of -17.50 and a beta of 1.46. The company has a quick ratio of 1.73, a current ratio of 0.28 and a debt-to-equity ratio of 15.61.

Ascot Resources (TSE:AOT) last released its earnings results on Friday, November 8th. The company reported C($0.02) earnings per share (EPS) for the quarter. The company had revenue of C$11.99 million during the quarter. Ascot Resources had a negative net margin of 125.09% and a negative return on equity of 0.83%. Research analysts expect that Ascot Resources Ltd. will post 0.1030303 earnings per share for the current 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.