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

CANEX Metals Inc. (CVE:CANX)’s stock price dropped 22.2% on Friday . The company traded as low as C$0.04 and last traded at C$0.04. Approximately 193,220 shares traded hands during trading, an increase of 100% from the average daily volume of 96,825 shares. The stock had previously closed at C$0.05.

CANEX Metals Stock Performance

The company has a current ratio of 43.42, a quick ratio of 15.67 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average price is C$0.04 and its 200-day moving average price is C$0.04. The company has a market capitalization of C$4.00 million, a P/E ratio of -3.50 and a beta of 1.19.

About CANEX Metals

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.