Iconic Minerals (CVE:ICM) Trading 16.7% Higher – Here’s What Happened

Shares of Iconic Minerals Ltd. (CVE:ICM) rose 16.7% during trading on Wednesday . The company traded as high as C$0.33 and last traded at C$0.32. Approximately 2,648,904 shares traded hands during mid-day trading, an increase of 515% from the average daily volume of 430,690 shares. The stock had previously closed at C$0.27.

Iconic Minerals Trading Up 14.8%

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 business’s 50-day moving average is C$0.11 and its two-hundred day moving average is C$0.08. The firm has a market cap of C$48.21 million, a P/E ratio of -13.00 and a beta of 1.59.

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.