Trigon Metals (CVE:TM) Stock Price Down 20.9% – Here’s Why

Shares of Trigon Metals Inc. (CVE:TM) were down 20.9% during trading on Thursday . The company traded as low as C$0.27 and last traded at C$0.27. Approximately 1,344,357 shares traded hands during mid-day trading, an increase of 841% from the average daily volume of 142,821 shares. The stock had previously closed at C$0.34.

Trigon Metals Stock Performance

The business has a 50-day moving average of C$0.45 and a 200 day moving average of C$0.70. The company has a market cap of C$11.56 million, a PE ratio of 6.63 and a beta of 1.67. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.29 and a quick ratio of 0.03.

Trigon Metals Company Profile

Trigon Metals Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and maintenance of mines and mineral properties in the African continent. The company primarily explores for copper, lead, and silver deposits. It holds an 80% interest in its flagship project, the Kombat Mine Property, which consists of five mining licenses that covers approximately 1,219 hectares and prospecting license covering 6,671 hectares located in Northern Namibia.