Azimut Exploration (CVE:AZM) Hits New 1-Year High – Time to Buy?

Azimut Exploration Inc. (CVE:AZM)’s share price reached a new 52-week high on Thursday . The stock traded as high as C$1.10 and last traded at C$0.99, with a volume of 236153 shares. The stock had previously closed at C$1.06.

Analyst Upgrades and Downgrades

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

Azimut Exploration Trading Down 7.1%

The business’s 50 day moving average price is C$0.82 and its 200-day moving average price is C$0.75. The firm has a market cap of C$91.66 million, a price-to-earnings ratio of -43.33 and a beta of 3.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.50 and a current ratio of 3.17.

Insider Activity

In related news, insider Jonathan Rosset bought 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average price of C$0.76 per share, for a total transaction of C$26,600.00. Following the transaction, the insider directly owned 655,000 shares of the company’s stock, valued at approximately C$497,800. This represents a 5.65% increase in their position. 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.