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

Key Points

• Defense Metals Corp. experienced a significant stock price drop of 22.5%, trading at C$0.16 after reaching a low of C$0.14 during the day.
• The company has a market cap of C$52.04 million and shows a negative PE ratio of -7.75, indicating financial challenges.
• Defense Metals is focused on mineral property development in Canada, particularly the Wicheeda project in British Columbia, which consists of 9 mineral claims across 4,244 hectares.

Defense Metals Corp. (CVE:DEFN - Get Free Report) shares were down 22.5% on Saturday . The company traded as low as C$0.14 and last traded at C$0.16. Approximately 4,005,172 shares were traded 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 stock's 50 day simple moving average is C$0.20 and its two-hundred day simple moving average is C$0.18. The stock has a market cap of C$55.40 million, a P/E ratio of -8.25 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.