Ascot Resources (TSE:AOT) Trading 2.7% Higher – Here’s Why

Ascot Resources Ltd. (TSE:AOT)’s share price rose 2.7% on Tuesday . The stock traded as high as C$0.19 and last traded at C$0.19. Approximately 150,602 shares changed hands during trading, a decline of 57% from the average daily volume of 353,931 shares. The stock had previously closed at C$0.19.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AOT. Desjardins upgraded Ascot Resources to a “moderate buy” rating in a report on Wednesday, November 20th. BMO Capital Markets cut their price objective on shares of Ascot Resources from C$1.25 to C$0.75 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th.

Ascot Resources Price Performance

The company’s 50-day simple moving average is C$0.20 and its 200 day simple moving average is C$0.31. The company has a market capitalization of C$130.69 million, a P/E ratio of -18.50 and a beta of 1.46. The company has a quick ratio of 1.73, a current ratio of 0.28 and a debt-to-equity ratio of 15.61.

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

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.