Trigon Metals (CVE:TM) Shares Down 20.9% – What’s Next?

Trigon Metals Inc. (CVE:TM)’s stock price dropped 20.9% during mid-day trading on Thursday . The company traded as low as C$0.27 and last traded at C$0.27. Approximately 1,344,357 shares were traded 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 business has a 50-day moving average price of C$0.45 and a 200 day moving average price of C$0.70. The stock 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 current ratio of 0.29, a quick ratio of 0.03 and a debt-to-equity ratio of 5.03.

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.