CANEX Metals (CVE:CANX) Shares Down 20% – Here’s Why

CANEX Metals Inc. (CVE:CANX) shares dropped 20% during mid-day trading on Tuesday . The stock traded as low as C$0.04 and last traded at C$0.04. Approximately 229,000 shares traded hands during mid-day trading, an increase of 60% from the average daily volume of 143,012 shares. The stock had previously closed at C$0.05.

CANEX Metals Trading Down 20.0 %

The company’s fifty day moving average is C$0.04 and its 200 day moving average is C$0.04. The company has a market cap of C$4.90 million, a P/E ratio of -16.11 and a beta of 1.19.

CANEX Metals Company Profile

CANEX Metals Inc, a junior exploration company, engages in the acquisition, exploration, and development of mineral properties in Canada and the United States. The company explores for gold and silver deposits. It holds interests in the Gold Range property that consists of 262 lode mining claims and 2 patented claims covering an area of 1650 hectares located in Mohave County, Arizona; and Gibson property covering an area of 887 hectares located in central British Columbia.