Defense Metals (CVE:DEFN) Shares Down 22.5% - Here's What Happened

Key Points

• Defense Metals Corp. (CVE:DEFN) experienced a significant stock price drop of 22.5%, trading as low as C$0.14, while the last trade was at C$0.16.
• The company's market cap is approximately C$52.04 million, with a P/E ratio of -7.75 and a high debt-to-equity ratio of 5.98.
• Defense Metals holds a 100% interest in the Wicheeda project in British Columbia, covering 4,244 hectares.

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

Defense Metals Stock Performance

The firm has a market capitalization of C$53.72 million, a P/E ratio of -8.00 and a beta of -1.20. The company'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.