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

Shares of Azimut Exploration Inc. (CVE:AZM) were down 17% during trading on Tuesday . The company traded as low as C$0.70 and last traded at C$0.78. Approximately 1,181,359 shares traded hands 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 Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft lowered shares of 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.com, the stock presently has a consensus rating of “Hold”.

Azimut Exploration Stock Performance

The company has a 50 day moving average of C$0.85 and a two-hundred day moving average of C$0.76. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.17 and a quick ratio of 5.50. The company has a market capitalization of C$75.55 million, a PE ratio of -35.71 and a beta of 1.87.

Insider Buying and Selling

In other Azimut Exploration news, insider Jonathan Rosset acquired 35,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average price of C$0.76 per share, for a total transaction of C$26,600.00. Following the completion of the acquisition, the insider owned 655,000 shares in the company, valued at C$497,800. This trade represents a 5.65% increase in their ownership of the stock. 16.63% of the stock is owned by insiders.

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.