Oceanic Iron Ore (CVE:FEO) Share Price Passes Below 200 Day Moving Average - What's Next?

Key Points

• Technical sell signal: Oceanic Iron Ore (CVE:FEO) passed below its 200‑day moving average
• Analyst outlook: Haywood Securities has a C$2.00 target and a "buy" rating; the stock's consensus rating is "Buy" with a consensus price target of C$2.00.
• Weak fundamentals and stage: The company is exploration‑stage (Ungava Bay projects in Nunavik, Quebec) with very low liquidity (current ratio 0.03, quick ratio 0.43), high leverage (debt/equity 15.79), a negative P/E, and a market cap of C$173.5M.

Oceanic Iron Ore Corp. (CVE:FEO - Get Free Report) 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 changing hands.

Analysts Set New Price Targets

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 report on Tuesday, April 7th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of C$2.00.

Oceanic Iron Ore Stock Performance

The business's 50-day moving average price is C$0.89 and its 200-day moving average price is C$0.83. 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 stock has a market cap of C$173.51 million, a PE ratio of -0.93 and a beta of 2.96.

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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