Defense Metals (CVE:DEFN) Shares Down 5.8% – Should You Sell?

Defense Metals Corp. (CVE:DEFN) shares dropped 5.8% during mid-day trading on Tuesday . The company traded as low as C$0.28 and last traded at C$0.28. Approximately 597,609 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 484,431 shares. The stock had previously closed at C$0.30.

Defense Metals Stock Down 5.8%

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.09 and a quick ratio of 1.04. The company has a market capitalization of C$109.04 million, a PE ratio of -27.80 and a beta of -2.42. The business’s 50 day simple moving average is C$0.26 and its 200 day simple moving average is C$0.24.

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. and changed its name to Defense Metals Corp. in December 2018. Defense Metals Corp. was incorporated in 2016 and is headquartered in Vancouver, Canada.