Iconic Minerals (CVE:ICM) Trading 11.1% Higher – Here’s Why

Iconic Minerals Ltd. (CVE:ICM)’s stock price traded up 11.1% during mid-day trading on Wednesday . The stock traded as high as C$0.33 and last traded at C$0.30. 3,439,218 shares traded hands during trading, an increase of 683% from the average session volume of 439,345 shares. The stock had previously closed at C$0.27.

Iconic Minerals Price Performance

The company has a fifty day simple moving average of C$0.11 and a 200 day simple moving average of C$0.09. The stock has a market capitalization of C$40.43 million, a price-to-earnings ratio of -13.00 and a beta of 1.59. The company has a debt-to-equity ratio of 145.42, a quick ratio of 0.05 and a current ratio of 0.83.

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.