Defense Metals (CVE:DEFN) Shares Up 22.6% - Should You Buy?

Key Points

• Defense Metals Corp. shares surged by 22.6% on Friday, trading as high as C$0.40 before closing at C$0.38, significantly increasing its trading volume.
• The company holds a market cap of C$127.59 million and has a debt-to-equity ratio of 5.98, indicating high leverage.
• Defense Metals is focused on the exploration and development of mineral properties in Canada, notably having 100% interest in the Wicheeda project in British Columbia.

Defense Metals Corp. (CVE:DEFN - )'s share price rose 22.6% on Friday . The stock traded as high as C$0.40 and last traded at C$0.38. Approximately 2,262,868 shares traded hands during mid-day trading, an increase of 526% from the average daily volume of 361,734 shares. The stock had previously closed at C$0.31.

Defense Metals Price 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 company has a 50 day simple moving average of C$0.21 and a 200-day simple moving average of C$0.18. The stock has a market cap of C$127.59 million, a price-to-earnings ratio of -19.00 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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