Azimut Exploration (CVE:AZM) Shares Down 13.8% – Here’s Why

Azimut Exploration Inc. (CVE:AZM)’s share price traded down 13.8% during trading on Monday . The stock traded as low as C$0.70 and last traded at C$0.81. 600,057 shares traded hands during mid-day trading, an increase of 298% from the average session volume of 150,634 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 report on Monday, November 17th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Azimut Exploration Price Performance

The company has a current ratio of 3.17, a quick ratio of 5.50 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of C$0.85 and a 200 day moving average price of C$0.76. The stock has a market capitalization of C$78.57 million, a price-to-earnings ratio of -37.14 and a beta of 1.87.

Insider Activity at Azimut Exploration

In other news, insider Jonathan Rosset acquired 35,000 shares of Azimut Exploration stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average cost of C$0.76 per share, with a total value of C$26,600.00. Following the purchase, the insider owned 655,000 shares in the company, valued at C$497,800. This trade represents a 5.65% increase in their ownership of the stock. Insiders own 16.63% of the company’s stock.

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.