Desjardins Weighs in on Ascot Resources FY2024 Earnings

Ascot Resources Ltd. (TSE:AOT) – Analysts at Desjardins issued their FY2024 earnings estimates for shares of Ascot Resources in a note issued to investors on Wednesday, November 20th. Desjardins analyst A. Carson anticipates that the company will post earnings per share of ($0.02) for the year. Desjardins currently has a “Moderate Buy” rating on the stock. The consensus estimate for Ascot Resources’ current full-year earnings is $0.10 per share. Desjardins also issued estimates for Ascot Resources’ FY2025 earnings at $0.02 EPS, FY2026 earnings at $0.18 EPS and FY2027 earnings at $0.13 EPS.

Several other research analysts also recently issued reports on the company. Raymond James downgraded Ascot Resources from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from C$1.00 to C$0.15 in a research note on Tuesday, September 10th. BMO Capital Markets dropped their price target 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 Stock Performance

Shares of TSE:AOT opened at C$0.22 on Monday. The company’s 50 day simple moving average is C$0.20 and its 200 day simple moving average is C$0.42. The company has a debt-to-equity ratio of 15.61, a current ratio of 0.28 and a quick ratio of 1.73. Ascot Resources has a 1 year low of C$0.14 and a 1 year high of C$0.91. The stock has a market capitalization of C$155.41 million, a price-to-earnings ratio of -22.00 and a beta of 1.46.

Ascot Resources (TSE:AOT) last issued its earnings results on Friday, November 8th. The company reported C($0.02) 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 for the quarter.

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.