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

Key Points

• Defense Metals Corp. (CVE:DEFN) saw its stock price drop by 22.5% to C$0.16, with trading volume significantly increasing by 1,766% compared to its average daily volume.
• The company has a market capitalization of C$52.04 million and a negative PE ratio of -7.75, indicating potential financial instability.
• Defense Metals holds a 100% interest in the Wicheeda project in British Columbia, consisting of 9 mineral claims across 4,244 hectares.

Defense Metals Corp. (CVE:DEFN - Get Free Report) was down 22.5% during mid-day trading on Friday . The company traded as low as C$0.14 and last traded at C$0.16. Approximately 4,005,172 shares traded hands during 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 firm has a market capitalization of C$58.76 million, a PE ratio of -8.75 and a beta of -1.20. 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 stock has a 50-day moving average price of C$0.20 and a 200-day moving average price of 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.