Ascot Resources (TSE:AOT) Downgraded by Raymond James to “Market Perform”

Ascot Resources (TSE:AOT) was downgraded by investment analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report released on Tuesday, BayStreet.CA reports. They currently have a C$0.15 target price on the stock, down from their prior target price of C$1.00. Raymond James’ price target points to a potential downside of 7.69% from the company’s current price.

Several other analysts also recently weighed in on AOT. BMO Capital Markets reissued an “outperform” rating and set a C$1.25 target price on shares of Ascot Resources in a research report on Thursday, July 4th. Desjardins upgraded shares of Ascot Resources to a “moderate buy” rating in a research note on Thursday, July 25th. Finally, CIBC decreased their price objective on shares of Ascot Resources from C$0.85 to C$0.60 in a research note on Friday, July 5th.

Ascot Resources Stock Performance

TSE:AOT traded down C$0.01 during trading hours on Tuesday, hitting C$0.16. 2,146,158 shares of the company were exchanged, compared to its average volume of 821,790. The stock has a market capitalization of C$114.79 million, a price-to-earnings ratio of -16.25 and a beta of 1.59. Ascot Resources has a 52-week low of C$0.14 and a 52-week high of C$0.91. 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 company’s 50 day moving average price is C$0.46 and its 200-day moving average price is C$0.62.

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.