Iconic Minerals (CVE:ICM) Trading 23.5% Higher – Time to Buy?

Iconic Minerals Ltd. (CVE:ICM)’s share price rose 23.5% during mid-day trading on Monday . The stock traded as high as C$0.22 and last traded at C$0.21. Approximately 6,936,988 shares changed hands during trading, an increase of 1,708% from the average daily volume of 383,666 shares. The stock had previously closed at C$0.17.

Iconic Minerals Stock Performance

The stock has a market capitalization of C$33.43 million, a price-to-earnings ratio of -13.00 and a beta of 1.59. The company’s fifty day simple moving average is C$0.10 and its 200 day simple moving average is C$0.08. 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.