Iconic Minerals (CVE:ICM) Trading Down 36.5% – Here's Why

Iconic Minerals Ltd. (CVE:ICM ) shares were down 36.5% during mid-day trading on Saturday . The company traded as low as C$0.16 and last traded at C$0.17. Approximately 5,541,955 shares were traded during mid-day trading, an increase of 1,138% from the average daily volume of 447,755 shares. The stock had previously closed at C$0.26. The company has a debt-to-equity ratio of 145.42, a quick ratio of 0.05 and a current ratio of 0.83. The company's fifty day moving average price is C$0.12 and its 200-day moving average price is C$0.09. The stock has a market cap of C$25.66 million, a P/E ratio of -13.00 and a beta of 1.59. 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.