Oceanic Iron Ore (CVE:FEO) PT Set at C$2.00 by Haywood Securities

Oceanic Iron Ore (CVE:FEO) received a C$2.00 target price from equities researchers at Haywood Securities in a report released on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Haywood Securities’ price target indicates a potential upside of 138.10% from the stock’s current price.

Oceanic Iron Ore Stock Down 1.2%

CVE:FEO traded down C$0.01 on Tuesday, reaching C$0.84. The stock had a trading volume of 50,500 shares, compared to its average volume of 144,192. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. The company has a 50-day moving average of C$0.89 and a 200 day moving average of C$0.84. The stock has a market cap of C$184.49 million, a P/E ratio of -0.99 and a beta of 2.96. Oceanic Iron Ore has a 12-month low of C$0.16 and a 12-month high of C$1.15.

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.