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

Ascot Resources Ltd. (TSE:AOT) shares dropped 20.7% on Saturday . The company traded as low as C$0.12 and last traded at C$0.12. Approximately 5,826,493 shares changed hands 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. BMO Capital Markets cut their price target on 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 upgraded Ascot Resources to a “moderate buy” rating in a report on Wednesday, November 20th.

Ascot Resources Trading Down 20.7 %

The firm has a fifty day moving average price of C$0.18 and a 200-day moving average price of C$0.24. The company 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 debt-to-equity ratio of 6.67, a current ratio of 0.23 and a quick ratio of 1.73.

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.