Iconic Minerals (CVE:ICM) Shares Down 18.2% – Here’s Why

Iconic Minerals Ltd. (CVE:ICM) shares fell 18.2% during trading on Wednesday . The stock traded as low as C$0.14 and last traded at C$0.14. 709,592 shares changed hands during trading, a decline of 50% from the average session volume of 1,420,194 shares. The stock had previously closed at C$0.17.

Iconic Minerals Stock Performance

The firm has a market cap of C$25.04 million, a price-to-earnings ratio of -13.50 and a beta of 0.40. The firm’s 50 day moving average is C$0.20 and its 200-day moving average is C$0.12. The company has a debt-to-equity ratio of 145.42, a quick ratio of 0.05 and a current ratio of 0.83.

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.