Azimut Exploration (CVE:AZM) Trading Down 11.7% – Time to Sell?

Azimut Exploration Inc. (CVE:AZM) shares dropped 11.7% during trading on Monday . The company traded as low as C$0.70 and last traded at C$0.83. Approximately 798,241 shares were traded during trading, an increase of 389% from the average daily volume of 163,242 shares. The stock had previously closed at C$0.94.

Analyst Upgrades and Downgrades

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

Azimut Exploration Stock Down 17.0%

The stock has a market cap of C$78.57 million, a price-to-earnings ratio of -37.14 and a beta of 1.87. 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 firm’s 50 day moving average is C$0.85 and its two-hundred day moving average is C$0.76.

Insider Activity

In other news, insider Jonathan Rosset bought 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were purchased at an average price of C$0.76 per share, for a total transaction of C$26,600.00. Following the completion of the transaction, the insider owned 655,000 shares in the company, valued at C$497,800. The trade was 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.