Defense Metals (CVE:DEFN) Trading Down 17.5% - Should You Sell?

Key Points

• Defense Metals Corp. (CVE:DEFN) shares experienced a significant decline of 17.5% on Friday, dropping to C$0.17.
• The stock's trading volume surged to approximately 896,912 shares, a 358% increase from its average daily volume.
• Defense Metals has a market cap of C$50.36 million and a high debt-to-equity ratio of 5.98.

Defense Metals Corp. (CVE:DEFN - ) shares dropped 17.5% on Friday . The stock traded as low as C$0.17 and last traded at C$0.17. Approximately 896,912 shares traded hands during mid-day trading, an increase of 358% from the average daily volume of 195,738 shares. The stock had previously closed at C$0.20.

Defense Metals Price Performance

The firm's 50-day moving average price is C$0.21 and its two-hundred day moving average price is C$0.18. The stock has a market cap of C$50.36 million, a PE ratio of -7.50 and a beta of -1.20. The company has a current ratio of 0.43, a quick ratio of 1.04 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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