Defense Metals (CVE:DEFN) Trading Up 23.9% - Time to Buy?

Key Points

• Defense Metals Corp. shares surged by 23.9% on Monday, reaching a trading price of C$0.29, with trading volume increasing by 1,032% compared to its average daily volume.
• The company has a market capitalization of C$95.69 million and a PE ratio of -14.25, indicating current financial challenges.
• Defense Metals holds a 100% interest in the Wicheeda project, which covers an area of 4,244 hectares in British Columbia.

Defense Metals Corp. (CVE:DEFN - ) shares were up 23.9% on Monday . The company traded as high as C$0.29 and last traded at C$0.29. Approximately 3,441,264 shares changed hands during mid-day trading, an increase of 1,032% from the average daily volume of 304,035 shares. The stock had previously closed at C$0.23.

Defense Metals Price Performance

The stock has a fifty day simple moving average of C$0.20 and a two-hundred day simple moving average of C$0.18. The company has a market cap of C$95.69 million, a PE ratio of -14.25 and a beta of -1.26. The company has a current ratio of 0.43, a quick ratio of 1.04 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.

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