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

Key Points

• Defense Metals Corp. (CVE:DEFN) experienced a significant stock price drop of 27.8%, closing at C$0.29 after trading as low as C$0.28 on Tuesday.
• Trading volume surged, with 4,382,948 shares exchanged, reflecting an increase of 1,020% from the average session volume.
• The company's current ratios indicate financial pressure, with a current ratio of 0.43 and a high debt-to-equity ratio of 5.98.

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

Defense Metals Trading Down 27.8%

The stock has a market capitalization of C$95.69 million, a P/E ratio of -14.25 and a beta of -1.26. The stock has a 50-day moving average price of C$0.22 and a two-hundred day moving average price of C$0.19. The company has a debt-to-equity ratio of 5.98, a quick ratio of 1.04 and a current ratio of 0.43.

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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