Iconic Minerals (CVE:ICM) Trading Up 26.5% – Time to Buy?

Iconic Minerals Ltd. (CVE:ICM)’s share price rose 26.5% during trading on Tuesday . The company traded as high as C$0.22 and last traded at C$0.22. Approximately 7,266,026 shares changed hands during mid-day trading, an increase of 1,780% from the average daily volume of 386,440 shares. The stock had previously closed at C$0.17.

Iconic Minerals Stock Up 26.5%

The stock’s fifty day simple moving average is C$0.10 and its two-hundred day simple moving average is C$0.08. The company has a debt-to-equity ratio of 145.42, a current ratio of 0.83 and a quick ratio of 0.05. The company has a market capitalization of C$33.43 million, a price-to-earnings ratio of -13.00 and a beta of 1.59.

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.