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

Key Points

• Defense Metals Corp. experienced a significant stock price drop of 27.8%, trading as low as C$0.28 from a previous close of C$0.40.
• Trading volume surged to 4,382,948 shares, marking an increase of 1,020% compared to the average session volume.
• The company has a market capitalization of C$95.69 million and a notably high debt-to-equity ratio of 5.98.

Defense Metals Corp. (CVE:DEFN - )'s stock price traded down 27.8% on Wednesday . The company traded as low as C$0.28 and last traded at C$0.29. 4,382,948 shares changed hands during 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 Price Performance

The business has a 50-day simple moving average of C$0.22 and a two-hundred day simple 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. The stock has a market capitalization of C$95.69 million, a price-to-earnings ratio of -14.25 and a beta of -1.26.

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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