Jonathan Rosset, an insider at Azimut Exploration Inc., acquired 26,500 shares of the company on October 29, 2023. The shares were purchased at an average price of C$0.80 each, bringing the total transaction value to C$21,200. Following this acquisition, Rosset’s total ownership in the company increased to 548,000 shares, with a combined value of C$438,400. This transaction represents a 5.08% increase in his position within the firm.
Recent Performance and Market Analysis
On Friday, November 3, 2023, shares of Azimut Exploration traded up by 1.4%, reaching C$0.72 during market hours. A total of 53,796 shares exchanged hands, surpassing the average trading volume of 45,597 shares. Over the past year, the stock has experienced significant fluctuations, with a 52-week low of C$0.45 and a high of C$0.92. The company’s fifty-day moving average currently stands at C$0.76, while the 200-day moving average is at C$0.67.
Financial metrics indicate that Azimut Exploration has a current ratio of 3.17 and a quick ratio of 5.50. Furthermore, its debt-to-equity ratio is notably low at 0.07, reflecting a solid financial position. The firm’s market capitalization is reported at C$72.40 million, with a price-to-earnings ratio of -24.40 and a beta of 2.60, highlighting its volatility in comparison to the broader market.
Analyst Ratings and Future Outlook
In a separate development, Deutsche Bank Aktiengesellschaft downgraded Azimut Exploration’s stock from a “buy” rating to a “hold” rating on November 17, 2023. Currently, one analyst has rated the stock with a “hold” designation, contributing to an average rating of “hold” according to data from MarketBeat.
Azimut Exploration Inc. focuses on the acquisition, exploration, and evaluation of mineral properties within Canada. The company is engaged in the exploration of a diverse range of resources, including copper, gold, and various base metals, among others.
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