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

Shares of Ascot Resources Ltd. (TSE:AOT) dropped 20.7% during mid-day trading on Saturday . The company traded as low as C$0.12 and last traded at C$0.12. Approximately 5,826,493 shares were traded during mid-day trading, an increase of 474% from the average daily volume of 1,014,417 shares. The stock had previously closed at C$0.15.

Analyst Ratings Changes

AOT has been the topic of a number of analyst reports. BMO Capital Markets reduced 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. Desjardins upgraded Ascot Resources to a “moderate buy” rating in a research note on Wednesday, November 20th.

Ascot Resources Stock Down 20.7 %

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 capitalization of C$109.26 million, a PE 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.

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.