Azimut Exploration (CVE:AZM) Share Price Passes Below 200 Day Moving Average – Here’s Why

Azimut Exploration Inc. (CVE:AZM)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$0.79 and traded as low as C$0.73. Azimut Exploration shares last traded at C$0.73, with a volume of 21,630 shares changing hands.

Wall Street Analysts Forecast Growth

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

Azimut Exploration Trading Down 5.2%

The business has a 50 day simple moving average of C$0.84 and a 200-day simple moving average of C$0.79. The stock has a market capitalization of C$73.53 million, a price-to-earnings ratio of -34.76 and a beta of 1.26. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.83 and a quick ratio of 5.50.

Insider Buying and Selling at Azimut Exploration

In other Azimut Exploration news, insider Jonathan Rosset acquired 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was acquired at an average cost of C$0.76 per share, for a total transaction 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 trade represents a 5.65% increase in their ownership of the stock. 16.63% of the stock is owned by company 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.