Defense Metals (CVE:DEFN) Shares Down 27.8% - What's Next?

Key Points

• Defense Metals Corp. shares fell sharply by 27.8%, trading as low as C$0.28 from a previous close of C$0.40, with significantly increased trading volume.
• The company's financial indicators show a serious debt-to-equity ratio of 5.98 and a negative PE ratio of -14.25, suggesting financial instability.
• Defense Metals has a 100% interest in the Wicheeda project in British Columbia, covering an area of 4,244 hectares, focusing on mineral property exploration and development.

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

Defense Metals Price Performance

The stock has a 50 day moving average of C$0.22 and a two-hundred day moving average of C$0.19. 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 cap of C$95.69 million, a PE ratio of -14.25 and a beta of -1.26.

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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