Defense Metals (CVE:DEFN) Shares Down 22.5% - Should You Sell?

Key Points

• Defense Metals Corp. shares fell by 22.5% during mid-day trading, closing at C$0.16 with a significant trading volume spike of 1,766% compared to the average.
• The company has a market cap of C$52.04 million, a debt-to-equity ratio of 5.98, and operates primarily in the acquisition and exploration of mineral properties in Canada.
• Defense Metals holds 100% interest in the Wicheeda project, which encompasses an area of 4,244 hectares located in British Columbia.

Defense Metals Corp. (CVE:DEFN - Get Free Report)'s stock price dropped 22.5% during mid-day trading on Friday . 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 Stock Down 22.5%

The business has a 50-day moving average of C$0.20 and a 200-day 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$52.04 million, a price-to-earnings 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.