Azimut Exploration (CVE:AZM) Stock Passes Below Fifty Day Moving Average – Here’s Why

Shares of Azimut Exploration Inc. (CVE:AZM) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$0.84 and traded as low as C$0.73. Azimut Exploration shares last traded at C$0.73, with a volume of 46,958 shares traded.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft cut Azimut Exploration from a “buy” rating to a “hold” rating in a report 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 company has a debt-to-equity ratio of 0.07, a current ratio of 3.17 and a quick ratio of 5.50. The firm has a market capitalization of C$73.53 million, a price-to-earnings ratio of -34.76 and a beta of 1.87. The stock has a 50 day moving average price of C$0.84 and a two-hundred day moving average price of C$0.77.

Insider Activity

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