Azimut Exploration (CVE:AZM) Shares Down 17% – Time to Sell?

Azimut Exploration Inc. (CVE:AZM) fell 17% during mid-day trading on Monday . The stock traded as low as C$0.70 and last traded at C$0.78. 1,181,359 shares traded hands during trading, an increase of 560% from the average session volume of 178,968 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 Stock Down 17.0%

The firm has a market cap of C$78.57 million, a PE ratio of -37.14 and a beta of 1.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.50 and a current ratio of 3.17. The company’s 50-day simple moving average is C$0.85 and its two-hundred day simple moving average is C$0.76.

Insider Buying and Selling at Azimut Exploration

In other Azimut Exploration news, insider Jonathan Rosset bought 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The shares were bought at an average cost 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 of the company’s stock, valued at C$497,800. This trade represents a 5.65% increase in their ownership of the stock. Corporate 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.