Defense Metals (CVE:DEFN) Shares Down 24.1% - Time to Sell?

Key Points

• Defense Metals Corp. shares plummeted by 24.1% on Tuesday, dropping from C$0.40 to last trading at C$0.30 amidst increased trading volume.
• The company, which focuses on mineral property acquisition and development, has a market cap of C$92.33 million and a price-to-earnings ratio of -13.75.
• Notably, the firm's debt-to-equity ratio stands at 5.98, indicating a high level of leverage relative to its equity.

Defense Metals Corp. (CVE:DEFN - )'s share price fell 24.1% on Tuesday . The company traded as low as C$0.29 and last traded at C$0.30. 1,172,663 shares changed hands during mid-day trading, an increase of 217% from the average session volume of 370,138 shares. The stock had previously closed at C$0.40.

Defense Metals Stock Performance

The business's 50-day simple moving average is C$0.22 and its two-hundred day simple moving average is C$0.19. The firm has a market cap of C$92.33 million, a price-to-earnings ratio of -13.75 and a beta of -1.26. The company has a quick ratio of 1.04, a current ratio of 0.43 and a debt-to-equity ratio of 5.98.

Defense Metals Company Profile

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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