Azimut Exploration (CVE:AZM) Reaches New 1-Year High – Here’s What Happened

Shares of Azimut Exploration Inc. (CVE:AZM) reached a new 52-week high on Wednesday . The stock traded as high as C$1.04 and last traded at C$1.00, with a volume of 445320 shares. The stock had previously closed at C$0.92.

Wall Street Analyst Weigh In

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

Azimut Exploration Trading Up 9.8%

The company has a market capitalization of C$101.64 million, a price-to-earnings ratio of -36.07 and a beta of 3.15. The firm has a 50-day moving average price of C$0.78 and a 200-day moving average price of C$0.73. The company has a current ratio of 3.17, a quick ratio of 5.50 and a debt-to-equity ratio of 0.07.

Insider Transactions at Azimut Exploration

In other news, insider Jonathan Rosset bought 35,000 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were purchased at an average cost of C$0.76 per share, with a total value of C$26,600.00. Following the completion of the acquisition, the insider directly owned 655,000 shares in the company, valued at approximately C$497,800. The trade was a 5.65% increase in their ownership of the stock. 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.