Defense Metals (CVE:DEFN) Trading Down 22.5% - Should You Sell?

Key Points

• Defense Metals Corp. (CVE:DEFN) experienced a stock price decline of 22.5%, closing at C$0.16 after trading as low as C$0.14 on Saturday.
• During the trading session, the volume surged by 1,766% from the average daily volume, with approximately 4 million shares exchanged.
• The company has a market capitalization of C$52.04 million and is known for its exploration of the Wicheeda project in British Columbia.

Defense Metals Corp. (CVE:DEFN - Get Free Report)'s share price traded down 22.5% on Saturday . The company traded as low as C$0.14 and last traded at C$0.16. 4,005,172 shares were traded during 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 Stock Performance

The business has a fifty day simple moving average of C$0.20 and a two-hundred day simple moving average of C$0.18. 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 cap of C$55.40 million, a PE ratio of -8.25 and a beta of -1.20.

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.