Defense Metals (CVE:DEFN) Stock Price Down 26.6% - Should You Sell?

Key Points

• Defense Metals Corp. (CVE:DEFN) experienced a significant stock decline of 26.6%, trading at C$0.29 after reaching a low of C$0.28 during mid-day trading.
• The trading volume surged to approximately 4.28 million shares, representing a 996% increase compared to the average daily volume.
• Despite its challenges, the company holds a 100% interest in the Wicheeda project, a mineral property located in British Columbia.

Shares of Defense Metals Corp. (CVE:DEFN - ) dropped 26.6% during mid-day trading on Tuesday . The stock traded as low as C$0.28 and last traded at C$0.29. Approximately 4,282,323 shares changed hands during mid-day trading, an increase of 996% from the average daily volume of 390,810 shares. The stock had previously closed at C$0.40.

Defense Metals Trading Down 26.6%

The company has a current ratio of 0.43, a quick ratio of 1.04 and a debt-to-equity ratio of 5.98. The stock has a market capitalization of C$97.37 million, a PE ratio of -14.50 and a beta of -1.26. The stock has a 50 day moving average price of C$0.22 and a 200-day moving average price of C$0.19.

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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