CANEX Metals (CVE:CANX) Trading Down 11.4% – Here’s Why

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

CANEX Metals Stock Down 11.4%

The stock has a fifty day moving average price of C$0.13 and a two-hundred day moving average price of C$0.11. The company has a market cap of C$28.66 million, a price-to-earnings ratio of -36.24 and a beta of 1.24.

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