Ascot Resources (TSE:AOT) Stock Price Up 24.4% – Here’s Why

Shares of Ascot Resources Ltd. (TSE:AOT) shot up 24.4% during mid-day trading on Friday . The stock traded as high as C$0.14 and last traded at C$0.14. 2,539,700 shares changed hands during mid-day trading, an increase of 99% from the average session volume of 1,276,137 shares. The stock had previously closed at C$0.11.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets reduced their target price on Ascot Resources from C$0.50 to C$0.15 in a report on Friday.

Ascot Resources Stock Performance

The company has a market cap of C$133.02 million, a price-to-earnings ratio of -7.27 and a beta of 1.46. The firm’s 50 day simple moving average is C$0.12 and its 200-day simple moving average is C$0.17. The company has a debt-to-equity ratio of 6.67, a quick ratio of 1.73 and a current ratio of 0.23.

Ascot Resources Company Profile

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.