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

Key Points

• Haywood Securities set a C$2.00 target price and a "buy" rating on Oceanic Iron Ore, implying a potential upside of 138.10% from the current price.
• Shares traded at about C$0.84 (down 1.2%) with a market cap of C$184.49M; the company shows a negative P/E (-0.99), high debt-to-equity (15.79) and low liquidity (current ratio 0.03, quick ratio 0.43).
• Oceanic Iron Ore is an exploration-stage company that holds a 100% interest in the Ungava Bay iron property in Nunavik, Quebec, covering roughly 35,999 hectares.

Oceanic Iron Ore (CVE:FEO - Get Free Report) has been given a C$2.00 target price by investment analysts at Haywood Securities in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Haywood Securities' price objective suggests a potential upside of 138.10% from the stock's current price.

Oceanic Iron Ore Trading Down 1.2%

Shares of FEO stock traded down C$0.01 on Tuesday, reaching C$0.84. 50,500 shares of the stock were exchanged, compared to its average volume of 144,192. The stock has a market cap of C$184.49 million, a P/E ratio of -0.99 and a beta of 2.96. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The firm has a 50 day moving average of C$0.89 and a two-hundred day moving average of C$0.84. Oceanic Iron Ore has a 1-year low of C$0.16 and a 1-year 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.

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