Defense Metals (CVE:DEFN) Shares Up 4.8% - Here's What Happened

Key Points

• Shares rose 4.8% to C$0.22 on Tuesday, but trading volume was only ~113,450 shares, down about 71% from its average daily volume.
• The company has a market capitalization of C$86.41 million with a negative P/E of -11, very low debt-to-equity (0.04) and an unusually high current ratio (26.44), indicating limited debt but operating losses.
• Defense Metals is a mineral exploration firm that holds a 100% interest in the Wicheeda project, covering 4,244 hectares in British Columbia.

Defense Metals Corp. (CVE:DEFN - ) shares rose 4.8% during trading on Tuesday . The stock traded as high as C$0.22 and last traded at C$0.22. Approximately 113,450 shares traded hands during trading, a decline of 71% from the average daily volume of 394,588 shares. The stock had previously closed at C$0.21.

Defense Metals Stock Performance

The firm has a fifty day moving average price of C$0.24 and a 200 day moving average price of C$0.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.04 and a current ratio of 26.44. The stock has a market cap of C$86.41 million, a PE ratio of -11.00 and a beta of -1.53.

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. and changed its name to Defense Metals Corp. in December 2018. Defense Metals Corp. was incorporated in 2016 and is headquartered in Vancouver, Canada.

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