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

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

Trigon Metals Price Performance

The stock has a market cap of C$16.14 million, a P/E ratio of 9.25 and a beta of 1.67. The business has a 50 day simple moving average of C$0.62 and a 200-day simple moving average of C$0.79. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.03 and a current ratio of 0.29.

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.