Defense Metals (CVE:DEFN) Stock Price Down 22.5% - Here's Why

Key Points

• Defense Metals Corp. (CVE:DEFN) experienced a significant stock price drop of 22.5%, trading as low as C$0.14 during mid-day trading.
• The company reported a market cap of C$52.04 million, a P/E ratio of -7.75, and a high debt-to-equity ratio of 5.98.
• Defense Metals specializes in the acquisition and development of mineral properties in Canada, holding a 100% interest in the Wicheeda project in British Columbia.

Defense Metals Corp. (CVE:DEFN - )'s stock price traded down 22.5% during mid-day trading on Friday . The company traded as low as C$0.14 and last traded at C$0.16. 4,005,172 shares traded hands during mid-day trading, an increase of 1,766% from the average session volume of 214,669 shares. The stock had previously closed at C$0.20.

Defense Metals Price Performance

The stock has a market cap of C$52.04 million, a P/E ratio of -7.75 and a beta of -1.20. 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 business has a 50 day simple moving average of C$0.20 and a 200-day simple moving average of C$0.18.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.