Defense Metals (CVE:DEFN) Shares Down 27.5% - Here's Why

Key Points

• Defense Metals Corp. stock price dropped by 27.5%, trading between C$0.14 and C$0.15, with a significant increase in trading volume.
• The company has a market capitalization of C$50.36 million, a P/E ratio of -7.50, and a debt-to-equity ratio of 5.98.
• Defense Metals is focused on the acquisition and exploration of mineral properties in Canada, holding a 100% interest in the Wicheeda project in British Columbia.

Defense Metals Corp. (CVE:DEFN - Get Free Report) shares traded down 27.5% during trading on Friday . The company traded as low as C$0.14 and last traded at C$0.15. 2,070,593 shares changed hands during mid-day trading, an increase of 958% from the average session volume of 195,738 shares. The stock had previously closed at C$0.20.

Defense Metals Price Performance

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 stock has a fifty day simple moving average of C$0.20 and a 200-day simple moving average of C$0.18. The company has a market capitalization of C$52.04 million, a price-to-earnings ratio of -7.75 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.