Defense Metals (CVE:DEFN) Stock Price Down 17.5% - What's Next?

Key Points

• Defense Metals Corp. shares fell by 17.5% to C$0.17, with trading volume increasing by 358% compared to the average.
• The company's financial ratios indicate challenges, including a debt-to-equity ratio of 5.98 and a PE ratio of -7.50, suggesting potential concerns for investors.
• Defense Metals holds a 100% interest in the Wicheeda project in British Columbia, which covers an area of 4,244 hectares.

Defense Metals Corp. (CVE:DEFN - Get Free Report)'s share price traded down 17.5% during mid-day trading on Friday . The stock traded as low as C$0.17 and last traded at C$0.17. 896,912 shares changed hands during trading, an increase of 358% from the average session volume of 195,738 shares. The stock had previously closed at C$0.20.

Defense Metals Stock Up 6.5%

The company has a market capitalization of C$55.40 million, a price-to-earnings ratio of -8.25 and a beta of -1.20. The business's 50-day moving average is C$0.20 and its 200-day moving average is C$0.18. The company has a quick ratio of 1.04, a current ratio of 0.43 and a debt-to-equity ratio of 5.98.

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.