Defense Metals (CVE:DEFN) Shares Up 22.6% - Time to Buy?

Key Points

• Defense Metals Corp. shares surged by 22.6% during mid-day trading, reaching a high of C$0.40, which is a significant jump compared to its previous closing price of C$0.31.
• The trading volume saw a remarkable increase of 526%, with over 2.2 million shares traded, far surpassing the average of 361,734 shares.
• The company has a market capitalization of C$127.59 million and is involved in the exploration and development of mineral properties, particularly the Wicheeda project in British Columbia.

Defense Metals Corp. (CVE:DEFN - ) shot up 22.6% during mid-day trading on Saturday . The company traded as high as C$0.40 and last traded at C$0.38. 2,262,868 shares were traded during trading, an increase of 526% from the average session volume of 361,734 shares. The stock had previously closed at C$0.31.

Defense Metals Stock Performance

The stock has a 50 day moving average price of C$0.21 and a two-hundred day moving average price of C$0.19. The company has a debt-to-equity ratio of 5.98, a current ratio of 0.43 and a quick ratio of 1.04. The company has a market capitalization of C$127.59 million, a price-to-earnings ratio of -19.00 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.

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