Iconic Minerals (CVE:ICM) Stock Price Up 21.2% – Should You Buy?

Shares of Iconic Minerals Ltd. (CVE:ICM) shot up 21.2% during mid-day trading on Monday . The company traded as high as C$0.21 and last traded at C$0.20. 3,468,210 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 3,978,489 shares. The stock had previously closed at C$0.17.

Iconic Minerals Stock Performance

The company has a 50-day moving average of C$0.12 and a 200 day moving average of C$0.09. The firm has a market capitalization of C$29.55 million, a PE ratio of -13.00 and a beta of 1.45. The company has a quick ratio of 0.05, a current ratio of 0.83 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.