CANEX Metals (CVE:CANX) Shares Down 22.2% – Here’s Why

CANEX Metals Inc. (CVE:CANX) fell 22.2% during trading on Tuesday . The stock traded as low as C$0.04 and last traded at C$0.04. 205,000 shares traded hands during trading, an increase of 178% from the average session volume of 73,786 shares. The stock had previously closed at C$0.05.

CANEX Metals Price Performance

The business’s 50-day simple moving average is C$0.04 and its two-hundred day simple moving average is C$0.04. The company has a quick ratio of 15.67, a current ratio of 43.42 and a debt-to-equity ratio of 0.64. The stock has a market cap of C$4.58 million, a P/E ratio of -4.00 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.