Defense Metals (CVE:DEFN) Shares Down 22.5% - Here's What Happened

Key Points

• Defense Metals Corp. (CVE:DEFN) shares fell 22.5% on Friday, trading as low as C$0.14 before closing at C$0.16.
• The company's trading volume surged to 4,005,172 shares, a significant increase of 1,766% compared to its average session volume.
• Despite the drop in share price, Defense Metals has a market capitalization of C$52.04 million and holds 100% interest in the Wicheeda mineral project in British Columbia.

Defense Metals Corp. (CVE:DEFN - ) shares traded down 22.5% on Friday . The company traded as low as C$0.14 and last traded at C$0.16. 4,005,172 shares traded hands during mid-day trading, an increase of 1,766% from the average session volume of 214,669 shares. The stock had previously closed at C$0.20.

Defense Metals Trading Down 22.5%

The stock has a market capitalization of C$52.04 million, a PE ratio of -7.75 and a beta of -1.20. The company has a quick ratio of 1.04, a current ratio of 0.43 and a debt-to-equity ratio of 5.98. The business's 50-day moving average is C$0.21 and its two-hundred day moving average is C$0.18.

About Defense Metals

Defense Metals Corp. engages in the acquisition, exploration, development, and evaluation of mineral properties in Canada. It has 100% interest in the Wicheeda project consisting of 9 mineral claims covering an area of 4,244 hectares located in British Columbia. The company was formerly known as First Legacy Mining Corp.

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