Defense Metals (CVE:DEFN) Trading 33.3% Higher - Still a Buy?

Key Points

• Defense Metals Corp. shares surged 33.3% during trading, reaching a last price of C$0.38, following a significant increase in trading volume of 740% compared to its average.
• The company has a market capitalization of C$119.20 million, with a quick ratio of 1.04 and a debt-to-equity ratio of 5.98, indicating potential financial strain.
• Defense Metals holds a 100% interest in the Wicheeda project, covering 4,244 hectares in British Columbia, focusing on mineral exploration and development.

Shares of Defense Metals Corp. (CVE:DEFN - ) were up 33.3% during trading on Tuesday . The stock traded as high as C$0.42 and last traded at C$0.38. Approximately 2,605,634 shares changed hands during trading, an increase of 740% from the average daily volume of 310,271 shares. The stock had previously closed at C$0.29.

Defense Metals Stock Performance

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 firm has a 50-day moving average of C$0.20 and a 200 day moving average of C$0.18. The stock has a market capitalization of C$119.20 million, a P/E ratio of -17.75 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.

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