Defense Metals (CVE:DEFN) Trading 22.6% Higher - Here's What Happened

Key Points

• Defense Metals Corp. saw a significant stock price increase of 22.6% during mid-day trading, reaching as high as C$0.40 and closing at C$0.38.
• The trading volume surged by 526% compared to the average daily volume, with approximately 2.26 million shares traded.
• The company holds a 100% interest in the Wicheeda project, which comprises 9 mineral claims in British Columbia, covering a total area of 4,244 hectares.

Defense Metals Corp. (CVE:DEFN - )'s stock price was up 22.6% during mid-day trading on Friday . The stock traded as high as C$0.40 and last traded at C$0.38. Approximately 2,262,868 shares changed hands during mid-day trading, an increase of 526% from the average daily volume of 361,734 shares. The stock had previously closed at C$0.31.

Defense Metals Stock Up 22.6%

The company has a market capitalization of C$127.59 million, a price-to-earnings ratio of -19.00 and a beta of -1.26. The business has a fifty day simple moving average of C$0.21 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.

Defense Metals Company Profile

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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