Defense Metals (CVE:DEFN) Stock Price Down 22.5% - Time to Sell?

Key Points

• Defense Metals Corp. (CVE:DEFN) experienced a significant stock price drop of 22.5%, trading as low as C$0.14 before closing at C$0.16.
• The stock's trading volume saw a drastic increase of 1,766%, with approximately 4 million shares exchanged compared to the average daily volume.
• With a market capitalization of C$52.04 million and a negative price-to-earnings ratio of -7.75, the company's financial ratios indicate potential challenges.

Defense Metals Corp. (CVE:DEFN - ) dropped 22.5% during mid-day trading on Saturday . 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 Trading Down 22.5%

The stock has a market capitalization of C$52.04 million, a price-to-earnings 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 moving average of C$0.20 and a 200-day 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.

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