Defense Metals (CVE:DEFN) Trading Down 22.5% - Time to Sell?

Key Points

• Defense Metals Corp. (CVE:DEFN) experienced a significant stock decline of 22.5%, closing at C$0.16 after trading as low as C$0.14.
• The company's trading volume saw an increase of 1,766% from its average, with over 4 million shares traded on this day.
• With a market cap of C$52.04 million, Defense Metals holds a debt-to-equity ratio of 5.98, indicating a high level of leverage.

Defense Metals Corp. (CVE:DEFN - Get Free Report) traded down 22.5% on Saturday . 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 Price Performance

The company's fifty day moving average is C$0.20 and its two-hundred day moving average is C$0.18. The firm has a market capitalization of C$57.75 million, a price-to-earnings ratio of -8.60 and a beta of -1.20. The company has a quick ratio of 1.04, a current ratio of 0.43 and a debt-to-equity ratio of 5.98.

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.