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

Key Points

• Defense Metals Corp. shares dropped by 22.5% to a low of C$0.14 during mid-day trading, significantly exceeding average volume with over 4 million shares traded.
• The company has a market cap of C$52.04 million and a high debt-to-equity ratio of 5.98, indicating potential financial strain.
• Defense Metals holds a 100% interest in the Wicheeda project, which involves 9 mineral claims covering 4,244 hectares in British Columbia.

Defense Metals Corp. (CVE:DEFN - Get Free Report)'s stock price was down 22.5% during mid-day trading on Saturday . The stock traded as low as C$0.14 and last traded at C$0.16. Approximately 4,005,172 shares traded hands 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 Up 6.5%

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 firm's 50-day moving average is C$0.20 and its 200 day moving average is C$0.18. The firm has a market capitalization of C$55.40 million, a PE 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.