Iconic Minerals (CVE:ICM) Trading 20.6% Higher – Here’s What Happened

Iconic Minerals Ltd. (CVE:ICM) shares rose 20.6% during mid-day trading on Monday . The company traded as high as C$0.22 and last traded at C$0.21. Approximately 4,354,235 shares traded hands during mid-day trading, an increase of 1,072% from the average daily volume of 371,364 shares. The stock had previously closed at C$0.17.

Iconic Minerals Trading Up 5.6%

The company has a 50 day moving average of C$0.11 and a 200 day moving average of C$0.08. The firm has a market cap of C$44.32 million, a price-to-earnings ratio of -13.00 and a beta of 1.59. The company has a current ratio of 0.83, a quick ratio of 0.05 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.