Oceanic Iron Ore (CVE:FEO) Shares Pass Above 200-Day Moving Average – Should You Sell?

Oceanic Iron Ore Corp. (CVE:FEO) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$0.82 and traded as high as C$0.89. Oceanic Iron Ore shares last traded at C$0.81, with a volume of 95,014 shares trading hands.

Analyst Ratings Changes

Separately, Haywood Securities set a C$2.00 price target on Oceanic Iron Ore and gave the company a “buy” rating in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$2.00.

Oceanic Iron Ore Stock Down 4.7%

The stock has a 50-day simple moving average of C$0.86 and a two-hundred day simple moving average of C$0.82. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The firm has a market cap of C$177.90 million, a PE ratio of -0.95 and a beta of 2.96.

Oceanic Iron Ore Company Profile

Oceanic Iron Ore Corp., an exploration stage company, acquires and explores for iron ore properties in Quebec, Canada. It holds a 100% interest in the Ungava Bay iron property comprising three project areas, including Hopes Advance, Morgan Lake, and Roberts Lake, which covers an area of approximately 35,999 hectares of iron formation located in Nunavik, Quebec. The company was formerly known as Pacific Harbour Capital Ltd. and changed its name to Oceanic Iron Ore Corp. in November 2010. Oceanic Iron Ore Corp.