CANEX Metals (CVE:CANX) Shares Down 11.1% – Here’s Why

CANEX Metals Inc. (CVE:CANX)’s share price dropped 11.1% during mid-day trading on Monday . The stock traded as low as C$0.04 and last traded at C$0.04. Approximately 97,700 shares traded hands during trading, an increase of 24% from the average daily volume of 78,769 shares. The stock had previously closed at C$0.05.

CANEX Metals Trading Up 12.5 %

The company has a debt-to-equity ratio of 0.64, a current ratio of 43.42 and a quick ratio of 15.67. The business’s 50 day simple moving average is C$0.05 and its 200 day simple moving average is C$0.05. The company has a market capitalization of C$5.15 million, a price-to-earnings ratio of -4.50 and a beta of 1.19.

About CANEX Metals

CANEX Metals Inc, a junior exploration company, engages in the acquisition, exploration, and development of mineral properties in Canada and the United States. The company explores for gold and silver deposits. It holds interests in the Gold Range property that consists of 262 lode mining claims and 2 patented claims covering an area of 1650 hectares located in Mohave County, Arizona; and Gibson property covering an area of 887 hectares located in central British Columbia.