Trigon Metals (CVE:TM) Shares Up 26.5% – Still a Buy?

Shares of Trigon Metals Inc. (CVE:TM) shot up 26.5% during trading on Tuesday . The company traded as high as C$0.32 and last traded at C$0.31. 189,360 shares changed hands during mid-day trading, an increase of 62% from the average session volume of 116,840 shares. The stock had previously closed at C$0.25.

Trigon Metals Stock Performance

The firm has a market cap of C$9.62 million, a price-to-earnings ratio of -3.87 and a beta of 1.67. The stock has a 50 day moving average of C$0.31 and a 200 day moving average of C$0.60. The company has a quick ratio of 0.03, a current ratio of 0.23 and a debt-to-equity ratio of -97.36.

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.