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

Azimut Exploration Inc. (CVE:AZM) dropped 17% during trading on Tuesday . The stock 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 downgraded shares of Azimut Exploration from a “buy” rating to a “hold” rating in a research report on Monday, November 17th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Azimut Exploration Trading Down 3.8%

The business has a 50 day moving average of C$0.85 and a two-hundred day moving average of C$0.76. 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 company has a current ratio of 3.17, a quick ratio of 5.50 and a debt-to-equity ratio of 0.07.

Insider Buying and Selling at Azimut Exploration

In related 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 purchase, the insider owned 655,000 shares in the company, valued at C$497,800. This represents a 5.65% increase in their position. 16.63% of the stock is owned by 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.