Oceanic Iron Ore (CVE:FEO) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Oceanic Iron Ore Corp.'s shares crossed above their 200-day moving average during trading, reaching a high of C$1.10, indicating upward momentum in the stock price.
• The company's market cap is approximately C$152.89 million, with a price-to-earnings ratio of -7.92 and a notably high debt-to-equity ratio of 15.79.
• Oceanic Iron Ore holds a 100% interest in the Ungava Bay iron property in Quebec, covering about 35,999 hectares for exploration purposes.

Shares of Oceanic Iron Ore Corp. (CVE:FEO - ) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.40 and traded as high as C$1.10. Oceanic Iron Ore shares last traded at C$1.03, with a volume of 387,715 shares trading hands.

Oceanic Iron Ore Trading Up 1.0%

The stock has a market cap of C$152.89 million, a price-to-earnings ratio of -7.92 and a beta of 2.94. 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 business's 50 day simple moving average is C$0.76 and its 200 day simple moving average is C$0.40.

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.

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