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

Shares of Azimut Exploration Inc. (CVE:AZM) traded down 17% on Monday . The company 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.

Wall Street Analyst Weigh In

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

Azimut Exploration Stock Down 17.0%

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 has a fifty day moving average price of C$0.85 and a 200-day moving average price of 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 Transactions at Azimut Exploration

In other Azimut Exploration news, insider Jonathan Rosset acquired 35,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were bought at an average price of C$0.76 per share, with a total value of C$26,600.00. Following the transaction, the insider directly owned 655,000 shares of the company’s stock, valued at C$497,800. The trade was a 5.65% increase in their position. 16.63% of the stock is currently owned by 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.