Defense Metals (CVE:DEFN) Trading Down 27.8% - Here's What Happened

Key Points

• Defense Metals Corp. (CVE:DEFN) experienced a significant share price drop of 27.8%, trading as low as C$0.28 during mid-day on Wednesday.
• Over 4.3 million shares were traded, marking a substantial increase of 1,020% compared to its average session volume.
• The company operates in the mineral property sector and holds an interest in the Wicheeda project in British Columbia, covering an area of 4,244 hectares.

Defense Metals Corp. (CVE:DEFN - )'s stock price dropped 27.8% on Wednesday . The company traded as low as C$0.28 and last traded at C$0.29. Approximately 4,382,948 shares were traded during mid-day trading, an increase of 1,020% from the average daily volume of 391,316 shares. The stock had previously closed at C$0.40.

Defense Metals Price Performance

The company has a current ratio of 0.43, a quick ratio of 1.04 and a debt-to-equity ratio of 5.98. The firm has a market cap of C$95.69 million, a price-to-earnings ratio of -14.25 and a beta of -1.26. The stock has a 50-day moving average of C$0.22 and a two-hundred day moving average of C$0.19.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.