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

Ascot Resources Ltd. (TSE:AOT) dropped 20.7% during mid-day trading on Friday . The stock traded as low as C$0.12 and last traded at C$0.12. Approximately 5,826,493 shares traded 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.

Analysts Set New Price Targets

AOT has been the subject of a number of research reports. Desjardins raised Ascot Resources to a “moderate buy” rating in a research report on Wednesday, November 20th. BMO Capital Markets reduced their price target on shares of Ascot Resources from C$1.25 to C$0.75 and set an “outperform” rating for the company in a research report on Tuesday, November 19th.

Ascot Resources Price Performance

The stock 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 debt-to-equity ratio of 6.67, a quick ratio of 1.73 and a current ratio of 0.23. The firm has a market cap of C$109.26 million, a PE ratio of -5.97 and a beta of 1.46.

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.