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

Trigon Metals Inc. (CVE:TM) shares fell 20.9% during mid-day trading on Wednesday . The stock traded as low as C$0.27 and last traded at C$0.27. 1,344,357 shares traded hands during 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’s 50-day moving average is C$0.46 and its 200 day moving average is C$0.70. The stock has a market capitalization of C$11.56 million, a PE ratio of 6.63 and a beta of 1.67. 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.