Defense Metals (CVE:DEFN) Shares Down 22.5% - Should You Sell?

Key Points

• Defense Metals Corp. experienced a significant decline in share price, trading down 22.5% to C$0.16 on Saturday.
• The company saw a dramatic increase in trading volume, with 4,005,172 shares traded, compared to an average volume of 214,669 shares.
• Defense Metals holds a 100% interest in the Wicheeda project, consisting of 9 mineral claims in British Columbia, covering an area of 4,244 hectares.

Defense Metals Corp. (CVE:DEFN - Get Free Report)'s stock price was down 22.5% during trading on Saturday . The stock traded as low as C$0.14 and last traded at C$0.16. Approximately 4,005,172 shares traded hands during mid-day trading, an increase of 1,766% from the average daily volume of 214,669 shares. The stock had previously closed at C$0.20.

Defense Metals Stock Performance

The company has a debt-to-equity ratio of 5.98, a current ratio of 0.43 and a quick ratio of 1.04. The company has a market capitalization of C$55.40 million, a PE ratio of -8.25 and a beta of -1.20. The firm's fifty day simple moving average is C$0.20 and its 200 day simple moving average is C$0.18.

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.