Iconic Minerals (CVE:ICM) Trading 25.6% Higher – What’s Next?

Shares of Iconic Minerals Ltd. (CVE:ICM) rose 25.6% on Wednesday . The company traded as high as C$0.31 and last traded at C$0.27. Approximately 8,835,553 shares were traded during mid-day trading, an increase of 1,975% from the average daily volume of 425,739 shares. The stock had previously closed at C$0.22.

Iconic Minerals Trading Up 25.6%

The company has a quick ratio of 0.05, a current ratio of 0.83 and a debt-to-equity ratio of 145.42. The stock’s 50 day moving average is C$0.11 and its 200-day moving average is C$0.08. The company has a market cap of C$41.99 million, a PE 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.