Trigon Metals (CVE:TM) Shares Down 20.9% – Here’s What Happened

Trigon Metals Inc. (CVE:TM) shares were down 20.9% during mid-day trading on Thursday . The stock traded as low as C$0.27 and last traded at C$0.27. Approximately 1,344,357 shares changed 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 Trading Down 20.9 %

The company has a market cap of C$11.56 million, a price-to-earnings 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. The business has a 50 day simple moving average of C$0.45 and a 200 day simple moving average of C$0.70.

About Trigon Metals

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.