Iconic Minerals (CVE:ICM) Shares Down 11.1% – Time to Sell?

Iconic Minerals Ltd. (CVE:ICM) was down 11.1% on Wednesday . The company traded as low as C$0.08 and last traded at C$0.08. Approximately 125,210 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 656,024 shares. The stock had previously closed at C$0.09.

Iconic Minerals Price Performance

The stock has a market capitalization of C$14.86 million, a P/E ratio of -8.00 and a beta of 0.01. The stock’s fifty day moving average is C$0.11 and its 200-day moving average is C$0.14. The company has a debt-to-equity ratio of 145.42, a current ratio of 0.83 and a quick ratio of 0.05.

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.