Defense Metals (CVE:DEFN) Shares Down 27.8% - Time to Sell?

Key Points

• Defense Metals Corp. (CVE:DEFN) experienced a significant decline in share price, dropping 27.8% to C$0.29, alongside a surge in trading volume rising by 1,020% compared to the average session volume.
• The company has a market capitalization of C$95.69 million and a high debt-to-equity ratio of 5.98, indicating financial challenges.
• Defense Metals holds a 100% interest in the Wicheeda project in British Columbia, which consists of 9 mineral claims covering 4,244 hectares.

Shares of Defense Metals Corp. (CVE:DEFN - ) fell 27.8% on Wednesday . The stock traded as low as C$0.28 and last traded at C$0.29. 4,382,948 shares traded hands during mid-day trading, an increase of 1,020% from the average session volume of 391,316 shares. The stock had previously closed at C$0.40.

Defense Metals Stock Performance

The company has a quick ratio of 1.04, a current ratio of 0.43 and a debt-to-equity ratio of 5.98. The firm has a 50 day moving average price of C$0.22 and a 200 day moving average price of C$0.19. The stock has a market cap of C$95.69 million, a PE ratio of -14.25 and a beta of -1.26.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.