Azimut Exploration (CVE:AZM) Shares Down 17% – Here’s Why

Azimut Exploration Inc. (CVE:AZM)’s stock price traded down 17% on Tuesday . The company traded as low as C$0.70 and last traded at C$0.78. 1,181,359 shares were traded 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 research report on Monday, November 17th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Azimut Exploration Stock Performance

The firm’s 50-day moving average price is C$0.85 and its two-hundred day moving average price is C$0.76. 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 firm has a market capitalization of C$75.55 million, a PE ratio of -35.71 and a beta of 1.87.

Insider Transactions at Azimut Exploration

In other Azimut Exploration news, insider Jonathan Rosset bought 35,000 shares of Azimut Exploration 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 completion of the acquisition, the insider directly owned 655,000 shares of the company’s stock, valued at approximately C$497,800. This trade represents a 5.65% increase in their ownership of the stock. 16.63% of the stock is currently owned by company insiders.

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.