Azimut Exploration (CVE:AZM) Sets New 52-Week High – Here’s Why

Azimut Exploration Inc. (CVE:AZM) shares hit a new 52-week high during trading on Thursday . The company traded as high as C$0.91 and last traded at C$0.90, with a volume of 176180 shares trading hands. The stock had previously closed at C$0.82.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft lowered Azimut Exploration from a “buy” rating to a “hold” rating in a research note on Monday, November 17th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Azimut Exploration Stock 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 firm has a market capitalization of C$90.57 million, a price-to-earnings ratio of -32.14 and a beta of 3.15. The stock has a fifty day moving average price of C$0.76 and a 200-day moving average price of C$0.72.

Insider Transactions at Azimut Exploration

In other news, insider Jonathan Rosset bought 35,000 shares of the business’s stock in a transaction dated Wednesday, December 31st. The stock was bought at an average price of C$0.76 per share, for a total transaction of C$26,600.00. Following the completion of the purchase, the insider owned 655,000 shares of the company’s stock, valued at approximately C$497,800. The trade was a 5.65% increase in their position. 16.63% of the stock is owned by corporate 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.