Oceanic Iron Ore (CVE:FEO) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO) shares passed 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 traded.

Analyst Upgrades and Downgrades

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

Oceanic Iron Ore Trading Down 4.7%

The firm has a market capitalization of C$177.90 million, a P/E ratio of -1.17 and a beta of 2.96. 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’s 50-day simple moving average is C$0.86 and its 200-day simple moving average is C$0.82.

About Oceanic Iron Ore

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.