Azimut Exploration (CVE:AZM) Reaches New 52-Week High – Still a Buy?

Shares of Azimut Exploration Inc. (CVE:AZM) reached a new 52-week high on Thursday . The stock traded as high as C$0.91 and last traded at C$0.90, with a volume of 176180 shares traded. The stock had previously closed at C$0.82.

Analyst Upgrades and Downgrades

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

Azimut Exploration Stock Performance

The stock has a market cap of C$86.54 million, a P/E ratio of -30.71 and a beta of 3.15. The company has a current ratio of 3.17, a quick ratio of 5.50 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of C$0.77 and a 200 day simple moving average of C$0.72.

Insider Activity at Azimut Exploration

In related news, insider Jonathan Rosset purchased 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was acquired at an average price of C$0.76 per share, with a total value of C$26,600.00. Following the completion of the purchase, the insider directly owned 655,000 shares in the company, valued at C$497,800. This trade represents a 5.65% increase in their ownership of the stock. 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.