Ascot Resources (TSE:AOT) Trading Up 18.9% – Still a Buy?

Ascot Resources Ltd. (TSE:AOT)’s share price was up 18.9% during mid-day trading on Monday . The stock traded as high as C$0.22 and last traded at C$0.22. Approximately 686,393 shares were traded during 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 Analyst Weigh In

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

Ascot Resources Stock Up 21.6 %

The firm has a 50-day moving average price of C$0.31 and a two-hundred day moving average price of C$0.52. The company has a market capitalization of C$158.94 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.

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.