Iconic Minerals (CVE:ICM) Shares Up 25.6% – Time to Buy?

Iconic Minerals Ltd. (CVE:ICM) rose 25.6% during trading on Tuesday . The stock traded as high as C$0.31 and last traded at C$0.27. Approximately 8,835,553 shares were traded during mid-day trading, an increase of 1,975% from the average daily volume of 425,739 shares. The stock had previously closed at C$0.22.

Iconic Minerals Stock Up 25.6%

The company’s 50 day simple moving average is C$0.11 and its 200-day simple moving average is C$0.08. The firm has a market cap of C$41.99 million, a P/E ratio of -13.00 and a beta of 1.59. The company has a current ratio of 0.83, a quick ratio of 0.05 and a debt-to-equity ratio of 145.42.

About Iconic Minerals

Iconic Minerals Ltd., a mineral exploration company, engages in the acquisition and exploration of gold and lithium properties in Nevada and Canada. The company holds a 50% interest in the Midas South located in Elko County, Nevada; and 50% interests in the New Pass project located in Churchill County, Nevada. It also holds a 100% interest in the Bonnie Claire property located in Nevada; and holds a 100% interest in the Grass Valley lithium property located in Lander County, Nevada. The company was formerly known as Bonaventure Enterprises Inc and changed its name to Iconic Minerals Ltd.