Defense Metals (CVE:DEFN) Stock Price Down 27.8% - Here's What Happened

Key Points

• Defense Metals Corp. (CVE:DEFN) experienced a significant drop in stock price, falling 27.8% to C$0.29 during trading on Wednesday.
• Trading volume surged to 4,382,948 shares, marking a 1,020% increase compared to its average session volume of 391,316 shares.
• The company, which has a market cap of C$95.69 million, is focused on mineral property acquisition and development in Canada, particularly the Wicheeda project in British Columbia.

Defense Metals Corp. (CVE:DEFN - )'s stock price traded down 27.8% during trading on Wednesday . The stock traded as low as C$0.28 and last traded at C$0.29. 4,382,948 shares changed hands during mid-day trading, an increase of 1,020% from the average session volume of 391,316 shares. The stock had previously closed at C$0.40.

Defense Metals Stock Down 27.8%

The stock has a market cap of C$95.69 million, a PE ratio of -14.25 and a beta of -1.26. The firm has a fifty day moving average of C$0.22 and a 200 day moving average of C$0.19. 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.

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