Iconic Minerals (CVE:ICM) Stock Price Down 15% – Here’s Why

Iconic Minerals Ltd. (CVE:ICM) fell 15% during mid-day trading on Tuesday . The stock traded as low as C$0.26 and last traded at C$0.26. 2,446,299 shares changed hands during trading, an increase of 21% from the average session volume of 2,027,906 shares. The stock had previously closed at C$0.30.

Iconic Minerals Stock Down 13.3%

The company’s 50-day simple moving average is C$0.15 and its two-hundred day simple moving average is C$0.10. The firm has a market capitalization of C$40.43 million, a P/E ratio of -13.00 and a beta of 1.45. The company has a debt-to-equity ratio of 145.42, a current ratio of 0.83 and a quick ratio of 0.05.

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.