CANEX Metals (CVE:CANX) Shares Down 11.4% – Should You Sell?

CANEX Metals Inc. (CVE:CANX) dropped 11.4% during trading on Thursday . The stock traded as low as C$0.16 and last traded at C$0.20. Approximately 365,890 shares changed hands during mid-day trading, an increase of 129% from the average daily volume of 159,766 shares. The stock had previously closed at C$0.22.

CANEX Metals Trading Down 11.4%

The company’s 50 day simple moving average is C$0.13 and its 200-day simple moving average is C$0.11. The firm has a market cap of C$28.66 million, a P/E ratio of -36.24 and a beta of 1.24.

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. The company was incorporated in 1971 and is headquartered in Calgary, Canada.