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

Shares of Azimut Exploration Inc. (CVE:AZM) traded down 12.8% during trading on Monday . The stock traded as low as C$0.70 and last traded at C$0.82. 678,541 shares changed hands during mid-day trading, an increase of 329% from the average session volume of 158,146 shares. The stock had previously closed at C$0.94.

Analyst Ratings Changes

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

Azimut Exploration Stock Performance

The company has a quick ratio of 5.50, a current ratio of 3.17 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average is C$0.85 and its 200-day moving average is C$0.76. The stock 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 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 acquired at an average cost of C$0.76 per share, with a total value of C$26,600.00. Following the transaction, the insider owned 655,000 shares of the company’s stock, valued at C$497,800. This represents a 5.65% increase in their position. 16.63% of the stock is currently owned by insiders.

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.