Iconic Minerals (CVE:ICM) Trading Up 11.6% – Time to Buy?

Iconic Minerals Ltd. (CVE:ICM) shares rose 11.6% during trading on Tuesday . The stock traded as high as C$0.25 and last traded at C$0.24. Approximately 3,454,158 shares traded hands during mid-day trading, an increase of 780% from the average daily volume of 392,726 shares. The stock had previously closed at C$0.22.

Iconic Minerals Trading Up 41.9%

The business’s fifty day moving average is C$0.10 and its two-hundred day moving average is C$0.08. The firm has a market cap of C$47.43 million, a price-to-earnings ratio of -13.00 and a beta of 1.59. The company has a quick ratio of 0.05, a current ratio of 0.83 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.