Iconic Minerals (CVE:ICM) Shares Down 11.1% – Here’s What Happened

Iconic Minerals Ltd. (CVE:ICM)’s share price fell 11.1% during mid-day trading on Monday . The company traded as low as C$0.08 and last traded at C$0.08. 214,639 shares traded hands during trading, a decline of 76% from the average session volume of 906,879 shares. The stock had previously closed at C$0.09.

Iconic Minerals Stock Performance

The stock’s 50-day moving average price is C$0.16 and its 200 day moving average price is C$0.13. 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 company has a market cap of C$14.84 million, a P/E ratio of -8.00 and a beta of -0.46.

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.