Azimut Exploration (CVE:AZM) Reaches New 1-Year High – Still a Buy?

Azimut Exploration Inc. (CVE:AZM)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as C$1.10 and last traded at C$0.99, with a volume of 236153 shares. The stock had previously closed at C$1.06.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft lowered Azimut Exploration from a “buy” rating to a “hold” rating in a research note on Monday, November 17th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Azimut Exploration presently has an average rating of “Hold”.

Azimut Exploration Stock Down 7.5%

The firm has a 50 day moving average price of C$0.82 and a 200-day moving average price of C$0.74. The firm has a market cap of C$98.71 million, a price-to-earnings ratio of -46.67 and a beta of 3.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.17 and a quick ratio of 5.50.

Insider Activity

In other Azimut Exploration news, insider Jonathan Rosset purchased 35,000 shares of the stock in a transaction dated Wednesday, December 31st. The stock was bought at an average price of C$0.76 per share, for a total transaction of C$26,600.00. Following the transaction, the insider directly owned 655,000 shares in the company, valued at C$497,800. This represents a 5.65% increase in their ownership of the stock. Company insiders own 16.63% of the company’s stock.

About Azimut Exploration

Azimut Exploration Inc engages in the acquisition, exploration, and evaluation of mineral properties in Canada. The company explores for copper, gold, base metals, chromium, nickel, diamond, tellurium, bismuth, tungsten, tin, molybdenum, rhenium, indium, rare earth elements, uranium, zinc, silver, cobalt, and platinum group elements. Its 100% owned flagship project is the Elmer gold project located in the James Bay region. The company was incorporated in 1986 and is based in Longueuil, Canada.