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

Key Points

• Defense Metals Corp. (CVE:DEFN) shares rose by 22.6% on Friday, reaching a trading high of C$0.40, significantly up from the previous close of C$0.31.
• The surge in trading involved 2,262,868 shares, indicating a massive increase of 526% compared to the average session volume.
• Defense Metals holds a 100% interest in the Wicheeda project in British Columbia, covering an area of 4,244 hectares.

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

Defense Metals Price Performance

The business has a 50 day moving average of C$0.21 and a 200 day moving average of C$0.19. The company has a market cap of C$127.59 million, a PE ratio of -19.00 and a beta of -1.26. The company has a debt-to-equity ratio of 5.98, a current ratio of 0.43 and a quick ratio of 1.04.

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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