Oceanic Iron Ore (CVE:FEO) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$0.81 and traded as high as C$0.82. Oceanic Iron Ore shares last traded at C$0.80, with a volume of 240,618 shares traded.

Analysts Set New Price Targets

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

Oceanic Iron Ore Stock Down 5.0%

The firm has a fifty day moving average price of C$0.81 and a 200 day moving average price of C$0.81. The firm has a market capitalization of C$198.08 million, a price-to-earnings ratio of -1.04 and a beta of 2.71. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03.

Insider Transactions at Oceanic Iron Ore

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

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.