Azimut Exploration (CVE:AZM) Trading Down 17% – Time to Sell?

Shares of Azimut Exploration Inc. (CVE:AZM) fell 17% on Tuesday . The company traded as low as C$0.70 and last traded at C$0.78. 1,181,359 shares traded hands during mid-day trading, an increase of 560% from the average session volume of 178,968 shares. The stock had previously closed at C$0.94.

Wall Street Analysts Forecast Growth

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, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Azimut Exploration Price Performance

The firm has a market cap of C$75.55 million, a P/E ratio of -35.71 and a beta of 1.87. The stock’s 50-day moving average is C$0.85 and its 200-day moving average is C$0.76. The company has a quick ratio of 5.50, a current ratio of 3.17 and a debt-to-equity ratio of 0.07.

Insider Activity

In related news, insider Jonathan Rosset acquired 35,000 shares of the business’s stock in a transaction dated Wednesday, December 31st. The stock was acquired at an average price of C$0.76 per share, with a total value of C$26,600.00. Following the completion of the transaction, the insider owned 655,000 shares of the company’s stock, valued at approximately C$497,800. This represents a 5.65% increase in their ownership of the stock. Insiders own 16.63% of the company’s stock.

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.