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

Iconic Minerals Ltd. (CVE:ICM) shares were up 23.5% on Monday . The company traded as high as C$0.22 and last traded at C$0.21. Approximately 5,368,940 shares changed hands during mid-day trading, an increase of 1,330% from the average daily volume of 375,430 shares. The stock had previously closed at C$0.17.

Iconic Minerals Price Performance

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 company has a market cap of C$32.66 million, a P/E ratio of -13.00 and a beta of 1.59.

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.