Defense Metals (CVE:DEFN) Shares Up 11.3% – Here’s Why

Defense Metals Corp. (CVE:DEFN) was up 11.3% during trading on Friday . The stock traded as high as C$0.30 and last traded at C$0.30. Approximately 1,377,812 shares changed hands during trading, an increase of 220% from the average daily volume of 431,006 shares. The stock had previously closed at C$0.27.

Defense Metals Stock Performance

The firm’s 50 day simple moving average is C$0.24 and its 200 day simple moving average is C$0.20. The firm has a market capitalization of C$99.05 million, a price-to-earnings ratio of -14.75 and a beta of -1.49. The company has a debt-to-equity ratio of 5.98, a quick ratio of 1.04 and a current ratio of 0.43.

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.