Defense Metals (CVE:DEFN) Trading Down 22.5% - Here's What Happened

Key Points

• Defense Metals Corp. saw its stock price drop 22.5% to C$0.16, with trading volume increasing significantly to over 4 million shares.
• The company's financial metrics include a debt-to-equity ratio of 5.98 and a market cap of C$52.04 million, indicating potential financial challenges.
• Defense Metals holds a 100% interest in the Wicheeda project in British Columbia, which is central to its operations in the exploration and development of mineral properties.

Defense Metals Corp. (CVE:DEFN - )'s share price fell 22.5% during trading on Friday . The stock traded as low as C$0.14 and last traded at C$0.16. 4,005,172 shares were traded during mid-day trading, an increase of 1,766% from the average session volume of 214,669 shares. The stock had previously closed at C$0.20.

Defense Metals Stock Performance

The firm has a fifty day simple moving average of C$0.21 and a 200 day simple moving average of C$0.18. The company has a current ratio of 0.43, a quick ratio of 1.04 and a debt-to-equity ratio of 5.98. The stock has a market cap of C$52.04 million, a price-to-earnings ratio of -7.75 and a beta of -1.20.

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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