Defense Metals (CVE:DEFN) Trading Down 22.5% - What's Next?

Key Points

• Defense Metals Corp. saw its shares plummet by 22.5% on a recent trading day, closing at C$0.16 after hitting a low of C$0.14.
• The trading volume drastically increased to 4,005,172 shares, marking a 1,766% rise compared to its average session volume.
• The company's market cap currently stands at C$52.04 million, with a P/E ratio of -7.75 and a significant debt-to-equity ratio of 5.98.

Defense Metals Corp. (CVE:DEFN - Get Free Report)'s share price traded down 22.5% during mid-day trading on Friday . The stock 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 Price Performance

The stock has a 50-day simple moving average of C$0.20 and a 200 day simple moving average of C$0.18. The company has a debt-to-equity ratio of 5.98, a quick ratio of 1.04 and a current ratio of 0.43. The stock has a market capitalization of C$55.40 million, a P/E ratio of -8.25 and a beta of -1.20.

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.