Ascot Resources (TSE:AOT) Shares Up 12.5% – Here’s Why

Shares of Ascot Resources Ltd. (TSE:AOT) rose 12.5% during trading on Monday . The company traded as high as C$0.27 and last traded at C$0.27. Approximately 832,123 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 958,060 shares. The stock had previously closed at C$0.24.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AOT. Raymond James cut Ascot Resources from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from C$1.00 to C$0.15 in a report on Tuesday, September 10th. Desjardins raised shares of Ascot Resources to a “moderate buy” rating in a research report on Thursday, July 25th.

Ascot Resources Price Performance

The firm has a fifty day moving average price of C$0.25 and a two-hundred day moving average price of C$0.48. The company has a quick ratio of 1.73, a current ratio of 0.28 and a debt-to-equity ratio of 15.61. The stock has a market capitalization of C$194.26 million, a P/E ratio of -24.00 and a beta of 1.46.

Ascot Resources Company Profile

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.