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

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

Trigon Metals Stock Down 20.9 %

The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.03 and a current ratio of 0.29. The firm has a market cap of C$11.56 million, a price-to-earnings ratio of 6.63 and a beta of 1.67. The business’s 50 day moving average price is C$0.46 and its 200 day moving average price is 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.