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

Iconic Minerals Ltd. (CVE:ICM) shot up 25.6% on Wednesday . The company traded as high as C$0.31 and last traded at C$0.27. 8,835,553 shares traded hands during trading, an increase of 1,975% from the average session volume of 425,739 shares. The stock had previously closed at C$0.22.

Iconic Minerals Stock Up 25.6%

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

Iconic Minerals Company Profile

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.