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

Trigon Metals Inc. (CVE:TM)’s share price fell 20.9% during trading on Wednesday . The stock traded as low as C$0.27 and last traded at C$0.27. 1,344,357 shares were traded during trading, an increase of 845% from the average session volume of 142,201 shares. The stock had previously closed at C$0.34.

Trigon Metals Stock Down 20.9 %

The stock has a market cap of C$11.56 million, a price-to-earnings ratio of 6.63 and a beta of 1.67. The firm’s fifty day moving average price is C$0.46 and its two-hundred day moving average price is C$0.70. 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.