Defense Metals (CVE:DEFN) Stock Experiences Surge of 27.3% – Is It a Good Investment?

On Tuesday, shares of Defense Metals Corp. (CVE:DEFN) saw a remarkable increase of 27.3%. The stock hit a high of C$0.22 before closing at C$0.21. During the trading session, around 279,989 shares were exchanged, indicating a surge of 89% compared to the usual daily volume of 148,025 shares. The previous closing price was C$0.17.

Performance Overview of Defense Metals

Defense Metals presents a current ratio of 0.63, a quick ratio of 1.04, and a debt-to-equity ratio standing at 0.26. The company's market capitalization is reported at C$54.31 million, with a price-to-earnings (P/E) ratio of -10.50, reflecting a beta of 0.65. The 50-day simple moving average for the stock is C$0.11, while the 200-day simple moving average is at C$0.13.

Company Background

Defense Metals Corp. is involved in the acquisition, exploration, development, and assessment of mineral properties in Canada. The company holds a 100% interest in the Wicheeda project, which comprises 9 mineral claims over an area of 4,244 hectares nestled in British Columbia. Previously, the company operated under the name First Legacy Mining Corp.

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Stock, Investment, Mining