Azimut Exploration (CVE:AZM) Shares Cross Below 50 Day Moving Average – What’s Next?

Azimut Exploration Inc. (CVE:AZM) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$0.84 and traded as low as C$0.75. Azimut Exploration shares last traded at C$0.82, with a volume of 227,900 shares trading hands.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft downgraded 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, According to data from MarketBeat, Azimut Exploration has an average rating of “Hold”.

Azimut Exploration Price Performance

The stock has a market capitalization of C$82.60 million, a P/E ratio of -39.05 and a beta of 1.87. The business’s 50 day simple moving average is C$0.84 and its two-hundred day simple moving average is C$0.78. The company has a quick ratio of 5.50, a current ratio of 3.17 and a debt-to-equity ratio of 0.07.

Insiders Place Their Bets

In related news, insider Jonathan Rosset purchased 35,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was acquired 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 of the company’s stock, valued at approximately C$497,800. This trade represents a 5.65% increase in their ownership of the stock. 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.