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

Trigon Metals Inc. (CVE:TM)’s share price traded down 20.9% during mid-day trading on Thursday . The company traded as low as C$0.27 and last traded at C$0.27. 1,344,357 shares traded 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 Performance

The stock’s 50 day simple moving average is C$0.45 and its two-hundred day simple moving average is C$0.70. The company has a market capitalization of C$11.56 million, a P/E ratio of 6.63 and a beta of 1.67. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.29 and a quick ratio of 0.03.

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.