Defense Metals (CVE:DEFN) Trading Up 12.2% - Should You Buy?

Key Points

• Defense Metals Corp. saw a significant stock increase of 12.2% during mid-day trading, reaching a peak of C$0.25.
• The trading volume surged to approximately 2.6 million shares, representing an increase of 877% compared to its average daily volume.
• The company holds a 100% interest in the Wicheeda project, which consists of 9 mineral claims in British Columbia, covering an area of 4,244 hectares.

Defense Metals Corp. (CVE:DEFN - ) rose 12.2% during mid-day trading on Wednesday . The stock traded as high as C$0.25 and last traded at C$0.23. Approximately 2,627,924 shares were traded during mid-day trading, an increase of 877% from the average daily volume of 269,103 shares. The stock had previously closed at C$0.21.

Defense Metals Stock Up 12.2%

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 company has a market capitalization of C$77.23 million, a P/E ratio of -11.50 and a beta of -1.26. The company has a 50 day moving average of C$0.20 and a 200-day moving average of C$0.18.

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.

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.