Canaccord Genuity Group Reiterates “C$1.50” Price Target for Oceanic Iron Ore (CVE:FEO)

Canaccord Genuity Group set a C$1.50 target price on Oceanic Iron Ore (CVE:FEO) in a research report report published on Monday morning, MarketBeat Ratings reports. The firm currently has a moderate buy rating on the stock.

Separately, National Bank Financial set a C$1.70 target price on shares of Oceanic Iron Ore and gave the company an “outperform” rating in a research report on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$1.73.

Oceanic Iron Ore Price Performance

Shares of FEO opened at C$0.74 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. Oceanic Iron Ore has a twelve month low of C$0.57 and a twelve month high of C$1.15. The stock has a market capitalization of C$193.52 million, a P/E ratio of -1.12 and a beta of 2.84. The company has a 50 day moving average of C$0.68 and a 200-day moving average of C$0.78.

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.