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

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AOT. Raymond James cut Ascot Resources from an “outperform” rating to a “market perform” rating and cut their target price for the stock from C$1.00 to C$0.15 in a research report on Tuesday, September 10th. Desjardins upgraded Ascot Resources to a “moderate buy” rating in a research report on Wednesday, November 20th. Finally, BMO Capital Markets dropped 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.

Ascot Resources Price Performance

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

Ascot Resources (TSE:AOT) last announced its quarterly earnings data on Friday, November 8th. The company reported C($0.02) earnings per share for the quarter. Ascot Resources had a negative net margin of 125.09% and a negative return on equity of 0.83%. The business had revenue of C$11.99 million during the quarter. As a group, equities research analysts predict that Ascot Resources Ltd. will post 0.1030303 earnings per share for the current year.

About Ascot Resources

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.