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

Key Points

• Defense Metals Corp. experienced a significant drop in share price, falling 22.5% to C$0.16 during mid-day trading.
• The company saw an exponential increase in trading volume, with 4,005,172 shares traded compared to an average of 214,669 shares.
• Defense Metals has a market capitalization of C$52.04 million and operates the Wicheeda project in British Columbia, focusing on mineral property development.

Defense Metals Corp. (CVE:DEFN - )'s share price fell 22.5% during mid-day trading on Saturday . The company traded as low as C$0.14 and last traded at C$0.16. 4,005,172 shares traded hands during 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 Trading Down 22.5%

The business has a fifty day moving average of C$0.20 and a 200-day moving average of C$0.18. 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 company has a market capitalization of C$52.04 million, a P/E ratio of -7.75 and a beta of -1.20.

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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