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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$0.77 and traded as high as C$0.81. Oceanic Iron Ore shares last traded at C$0.78, with a volume of 102,150 shares.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FEO. National Bank Financial set a C$1.70 price target on shares of Oceanic Iron Ore and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Canaccord Genuity Group set a C$1.50 target price on Oceanic Iron Ore and gave the stock a “moderate buy” rating in a research report on Monday, August 31st. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$1.73.

Oceanic Iron Ore Price Performance

The company has a 50-day simple moving average of C$0.70 and a 200-day simple moving average of C$0.77. The stock has a market cap of C$201.36 million, a PE ratio of -1.17 and a beta of 3.00. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.

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.