Ascot Resources (TSE:AOT) Shares Up 18.9% – Here’s Why

Ascot Resources Ltd. (TSE:AOT)’s share price was up 18.9% on Monday . The company traded as high as C$0.22 and last traded at C$0.22. Approximately 686,393 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 913,891 shares. The stock had previously closed at C$0.19.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Desjardins raised Ascot Resources to a “moderate buy” rating in a report on Thursday, July 25th. CIBC cut their price target on Ascot Resources from C$0.85 to C$0.60 in a research note on Friday, July 5th. Raymond James lowered Ascot Resources from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from C$1.00 to C$0.15 in a research report on Tuesday, September 10th. Finally, BMO Capital Markets restated an “outperform” rating and set a C$1.25 target price on shares of Ascot Resources in a research report on Thursday, July 4th.

Ascot Resources Stock Up 26.2 %

The company has a debt-to-equity ratio of 15.61, a quick ratio of 1.73 and a current ratio of 0.28. The company has a market cap of C$187.20 million, a P/E ratio of -26.50 and a beta of 1.46. The firm’s 50-day simple moving average is C$0.30 and its 200 day simple moving average is C$0.51.

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.