Ascot Resources (TSE:AOT) Trading Down 27% – Should You Sell?

Shares of Ascot Resources Ltd. (TSE:AOT) dropped 27% during mid-day trading on Wednesday . The company traded as low as C$0.14 and last traded at C$0.14. Approximately 1,439,736 shares traded hands during mid-day trading, an increase of 196% from the average daily volume of 486,299 shares. The stock had previously closed at C$0.19.

Analysts Set New Price Targets

AOT has been the topic of several analyst reports. BMO Capital Markets lowered their price objective on Ascot Resources from C$1.25 to C$0.75 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Desjardins upgraded Ascot Resources to a “moderate buy” rating in a research note on Wednesday, November 20th.

Ascot Resources Stock Performance

The company has a market cap of C$105.96 million, a price-to-earnings ratio of -15.00 and a beta of 1.46. The company has a debt-to-equity ratio of 15.61, a current ratio of 0.28 and a quick ratio of 1.73. The stock has a 50-day moving average price of C$0.19 and a 200 day moving average price of C$0.26.

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

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.