Iconic Minerals (CVE:ICM) Shares Up 39.5% – Still a Buy?

Iconic Minerals Ltd. (CVE:ICM) rose 39.5% on Tuesday . The company traded as high as C$0.31 and last traded at C$0.30. Approximately 7,049,249 shares were traded during trading, an increase of 1,601% from the average daily volume of 414,538 shares. The stock had previously closed at C$0.22.

Iconic Minerals Trading Up 18.6%

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’s 50 day moving average price is C$0.10 and its 200 day moving average price is C$0.08. The firm has a market cap of C$39.65 million, a PE 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.