Defense Metals (CVE:DEFN) Trading 22.6% Higher - Time to Buy?

Key Points

• Defense Metals Corp. shares surged 22.6% during trading, reaching a high of C$0.40, with over 2.2 million shares traded, significantly up from the average volume.
• The company has a debt-to-equity ratio of 5.98 and a market capitalization of C$127.59 million, indicating potential financial risks.
• Defense Metals owns the Wicheeda project in British Columbia, which comprises 9 mineral claims over 4,244 hectares.

Defense Metals Corp. (CVE:DEFN - ) shares traded up 22.6% during mid-day trading on Friday . The company traded as high as C$0.40 and last traded at C$0.38. 2,262,868 shares were traded during 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 Stock Performance

The company has a debt-to-equity ratio of 5.98, a quick ratio of 1.04 and a current ratio of 0.43. The business's fifty day simple moving average is C$0.21 and its 200-day simple moving average is C$0.18. The firm has a market capitalization of C$127.59 million, a PE ratio of -19.00 and a beta of -1.26.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.