Defense Metals (CVE:DEFN) Trading Up 22.6% - Here's Why

Key Points

• Defense Metals Corp. saw its stock price increase by 22.6% during trading, reaching a high of C$0.40 before closing at C$0.38.
• The trading volume surged to approximately 2.26 million shares, marking an increase of 526% compared to its average volume.
• Defense Metals is focused on acquiring and developing mineral properties in Canada, notably owning 100% of the Wicheeda project in British Columbia.

Defense Metals Corp. (CVE:DEFN - ) shares were up 22.6% during trading on Friday . The stock traded as high as C$0.40 and last traded at C$0.38. Approximately 2,262,868 shares traded hands during trading, an increase of 526% from the average daily volume of 361,734 shares. The stock had previously closed at C$0.31.

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 has a 50-day moving average price of C$0.21 and a 200-day moving average price of C$0.18. The company has a market capitalization of C$127.59 million, a price-to-earnings ratio of -19.00 and a beta of -1.26.

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.

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