Defense Metals (CVE:DEFN) Trading Down 22.5% - Here's Why

Key Points

• Defense Metals Corp. (CVE:DEFN) saw its share price decline by 22.5% during mid-day trading, dropping to C$0.16 from a previous close of C$0.20.
• Trading volume increased significantly, with 4,005,172 shares changing hands, marking an increase of 1,766% compared to the average session volume.
• The company's financial ratios indicate challenges, including a debt-to-equity ratio of 5.98 and a PE ratio of -7.75.

Defense Metals Corp. (CVE:DEFN - Get Free Report)'s stock price dropped 22.5% during trading on Saturday . The company traded as low as C$0.14 and last traded at C$0.16. Approximately 4,005,172 shares were traded during trading, an increase of 1,766% from the average daily volume of 214,669 shares. The stock had previously closed at C$0.20.

Defense Metals Price Performance

The stock's 50-day moving average is C$0.20 and its 200 day moving average is C$0.18. The company has a debt-to-equity ratio of 5.98, a current ratio of 0.43 and a quick ratio of 1.04. The company has a market cap of C$52.04 million, a PE ratio of -7.75 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.