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

Trigon Metals Inc. (CVE:TM)’s stock price dropped 20.9% 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 Performance

The company has a quick ratio of 0.03, a current ratio of 0.23 and a debt-to-equity ratio of -97.36. The stock has a market cap of C$8.85 million, a P/E ratio of -3.56 and a beta of 1.67. The stock has a fifty day simple moving average of C$0.44 and a 200-day simple moving average of C$0.69.

Trigon Metals Company Profile

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.