Iconic Minerals (CVE:ICM) Stock Price Down 7.7% – Here’s What Happened

Iconic Minerals Ltd. (CVE:ICM)’s share price dropped 7.7% during mid-day trading on Tuesday . The company traded as low as C$0.12 and last traded at C$0.12. Approximately 698,540 shares changed hands during trading, a decline of 41% from the average daily volume of 1,188,168 shares. The stock had previously closed at C$0.13.

Iconic Minerals Trading Up 4.3%

The company’s fifty day moving average price is C$0.20 and its two-hundred day moving average price is C$0.12. 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$22.26 million, a price-to-earnings ratio of -12.00 and a beta of 0.40.

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.