Iconic Minerals (CVE:ICM) Trading Up 20% – Time to Buy?

Iconic Minerals Ltd. (CVE:ICM)’s stock price rose 20% during mid-day trading on Thursday . The company traded as high as C$0.06 and last traded at C$0.06. Approximately 917,231 shares were traded during trading, an increase of 60% from the average session volume of 572,867 shares. The stock had previously closed at C$0.05.

Iconic Minerals Price Performance

The company’s 50-day moving average price is C$0.08 and its 200-day moving average price is C$0.14. The company has a quick ratio of 0.05, a current ratio of 0.83 and a debt-to-equity ratio of 145.42. The firm has a market cap of C$11.15 million, a price-to-earnings ratio of -6.00 and a beta of -0.31.

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.