Oceanic Iron Ore (CVE:FEO) Given a C$1.70 Price Target by National Bank Financial Analysts

Oceanic Iron Ore (CVE:FEO) received a C$1.70 price target from investment analysts at National Bank Financial in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price objective suggests a potential upside of 136.11% from the stock’s previous close.

Separately, Haywood Securities set a C$2.00 target price on shares of Oceanic Iron Ore and gave the company a “buy” rating in a research note on Tuesday, April 7th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$1.85.

Oceanic Iron Ore Trading Up 2.9%

Shares of CVE FEO traded up C$0.02 during trading hours on Wednesday, hitting C$0.72. The company’s stock had a trading volume of 384,661 shares, compared to its average volume of 124,527. The business has a 50-day simple moving average of C$0.80 and a 200-day simple moving average of C$0.81. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The stock has a market cap of C$187.65 million, a price-to-earnings ratio of -0.99 and a beta of 2.71. Oceanic Iron Ore has a 12 month low of C$0.19 and a 12 month high of C$1.15.

Insiders Place Their Bets

In related news, Director Jeremy Langford acquired 128,500 shares of Oceanic Iron Ore stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average cost of C$0.78 per share, for a total transaction of C$100,230.00. Following the purchase, the director directly owned 128,500 shares of the company’s stock, valued at approximately C$100,230. This trade represents a ∞ increase in their position. Corporate insiders own 9.00% of the company’s stock.

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.