Azimut Exploration (CVE:AZM) Stock Price Down 12.8% – Here’s Why

Azimut Exploration Inc. (CVE:AZM) dropped 12.8% during trading on Monday . The stock traded as low as C$0.70 and last traded at C$0.82. Approximately 817,251 shares changed hands during trading, an increase of 394% from the average daily volume of 165,409 shares. The stock had previously closed at C$0.94.

Analyst Upgrades and Downgrades

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

Azimut Exploration Trading Down 17.0%

The company has a debt-to-equity ratio of 0.07, a current ratio of 3.17 and a quick ratio of 5.50. The firm’s fifty day moving average is C$0.85 and its two-hundred day moving average is C$0.76. The firm has a market capitalization of C$78.57 million, a PE ratio of -37.14 and a beta of 1.87.

Insider Activity at Azimut Exploration

In other Azimut Exploration news, insider Jonathan Rosset purchased 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were acquired at an average cost of C$0.76 per share, for a total transaction of C$26,600.00. Following the completion of the acquisition, the insider owned 655,000 shares of the company’s stock, valued at C$497,800. The trade was a 5.65% increase in their position. Insiders own 16.63% of the company’s stock.

Azimut Exploration Company Profile

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.