Iconic Minerals (CVE:ICM) Shares Up 26.5% – Still a Buy?

Iconic Minerals Ltd. (CVE:ICM)’s stock price rose 26.5% during trading on Monday . The stock traded as high as C$0.22 and last traded at C$0.22. Approximately 7,266,026 shares traded hands during mid-day trading, an increase of 1,780% from the average daily volume of 386,440 shares. The stock had previously closed at C$0.17.

Iconic Minerals Price Performance

The stock has a fifty day simple moving average of C$0.10 and a 200-day simple moving average of C$0.08. The company has a market capitalization of C$33.43 million, a PE 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.

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.