Ascendant Resources (TSE:ASND) Trading 25% Higher – Should You Buy?

Ascendant Resources Inc. (TSE:ASND)’s stock price shot up 25% on Friday . The company traded as high as C$0.05 and last traded at C$0.05. 333,100 shares were traded during mid-day trading, an increase of 235% from the average session volume of 99,382 shares. The stock had previously closed at C$0.04.

Analysts Set New Price Targets

Separately, HC Wainwright reduced their price target on shares of Ascendant Resources from C$0.35 to C$0.30 in a research report on Thursday, July 25th.

Ascendant Resources Stock Performance

The stock has a 50-day moving average of C$0.04 and a 200 day moving average of C$0.05. The firm has a market capitalization of C$9.33 million, a P/E ratio of -1.67 and a beta of 1.57. The company has a debt-to-equity ratio of 301.82, a quick ratio of 0.04 and a current ratio of 0.05.

About Ascendant Resources

Ascendant Resources Inc, a mining company, explores for and develops mineral properties. The company explores for zinc, copper, lead, tin, silver, gold, and other metals. It holds 50% interest in the Lagoa Salgada volcanogenic massive sulphide project, which covers an area of 10,700 hectares located on the Iberian Pyrite Belt in Portugal.