Trigon Metals (CVE:TM) Shares Down 20.9% – Time to Sell?

Trigon Metals Inc. (CVE:TM)’s stock price dropped 20.9% on Wednesday . The stock traded as low as C$0.27 and last traded at C$0.27. Approximately 1,344,357 shares traded 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 Stock Down 20.9 %

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