Trigon Metals (CVE:TM) Stock Price Down 18.5% – Here’s Why

Trigon Metals Inc. (CVE:TM)’s share price traded down 18.5% during mid-day trading on Friday . The company traded as low as C$0.29 and last traded at C$0.33. 152,253 shares traded hands during mid-day trading, an increase of 57% from the average session volume of 96,688 shares. The stock had previously closed at C$0.41.

Trigon Metals Stock Performance

The company has a market cap of C$16.14 million, a P/E ratio of 9.25 and a beta of 1.67. The company’s fifty day moving average is C$0.62 and its 200 day moving average is C$0.78. The company has a current ratio of 0.29, a quick ratio of 0.03 and a debt-to-equity ratio of 5.03.

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.