Ascot Resources (TSE:AOT) Shares Down 20.7% – Here’s What Happened

Shares of Ascot Resources Ltd. (TSE:AOT) dropped 20.7% during mid-day trading on Saturday . The stock 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 Analyst Weigh In

AOT has been the subject of several research reports. BMO Capital Markets reduced their price objective 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.

Ascot Resources Stock Down 20.7 %

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 firm has a 50-day simple moving average of C$0.18 and a two-hundred day simple moving average of C$0.24. The company has a market cap of C$109.26 million, a PE ratio of -5.97 and a beta of 1.46.

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.