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

Key Points

• Defense Metals Corp. (CVE:DEFN) experienced a significant stock decline of 27.8% in a single day, trading as low as C$0.28 from a previous close of C$0.40.
• The company recorded an extraordinary trading volume of approximately 4.38 million shares, a drastic increase of 1,020% compared to its average daily volume.
• Defense Metals has a market capitalization of C$95.69 million and operates primarily in the acquisition and exploration of mineral properties, with full ownership of the Wicheeda project in British Columbia.

Defense Metals Corp. (CVE:DEFN - ) was down 27.8% on Wednesday . 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 Price Performance

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 company has a 50 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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