Oceanic Iron Ore (CVE:FEO) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Oceanic Iron Ore Corp. (CVE:FEO) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$0.83 and traded as low as C$0.79. Oceanic Iron Ore shares last traded at C$0.79, with a volume of 139,350 shares traded.

Analysts Set New Price Targets

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

Oceanic Iron Ore Trading Down 4.9%

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 firm has a fifty day simple moving average of C$0.88 and a two-hundred day simple moving average of C$0.83. The firm has a market cap of C$171.31 million, a PE ratio of -0.92 and a beta of 2.96.

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.