Azimut Exploration (CVE:AZM) Shares Down 17% – What’s Next?

Azimut Exploration Inc. (CVE:AZM)’s stock price was down 17% during mid-day trading on Monday . The company traded as low as C$0.70 and last traded at C$0.78. Approximately 1,181,359 shares were traded during mid-day trading, an increase of 560% from the average daily volume of 178,968 shares. The stock had previously closed at C$0.94.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft cut 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, Azimut Exploration has an average rating of “Hold”.

Azimut Exploration Price Performance

The firm has a fifty day moving average of C$0.85 and a two-hundred day moving average of C$0.76. 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 company has a market capitalization of C$78.57 million, a PE ratio of -37.14 and a beta of 1.87.

Insiders Place Their Bets

In related news, insider Jonathan Rosset purchased 35,000 shares of Azimut Exploration stock in a transaction dated Wednesday, December 31st. The stock was purchased at an average cost 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 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 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.