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

Trigon Metals Inc. (CVE:TM)’s share price was down 20.9% on Thursday . The stock traded as low as C$0.27 and last traded at C$0.27. Approximately 1,344,357 shares traded hands during 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 Performance

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 stock’s fifty day moving average price is C$0.45 and its 200-day moving average price is C$0.70. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.03 and a current ratio of 0.29.

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.