Iconic Minerals (CVE:ICM) Shares Down 18.2% – Should You Sell?

Iconic Minerals Ltd. (CVE:ICM) shares fell 18.2% during trading on Tuesday . The company traded as low as C$0.14 and last traded at C$0.14. 709,592 shares traded hands during mid-day 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 company has a 50 day simple moving average of C$0.20 and a 200-day simple moving average of C$0.12. 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 stock has a market cap of C$25.04 million, a P/E ratio of -13.50 and a beta of 0.40.

About Iconic Minerals

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.