Oceanic Iron Ore (CVE:FEO) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• Shares crossed above their 200-day moving average on Wednesday—200‑day MA C$0.84, intra-day high C$0.86, with the last trade at C$0.80 on a volume of 32,990 shares.
• The company shows strained fundamentals with a debt-to-equity of 15.79, very low current ratio of 0.03 and quick ratio of 0.43, a negative P/E of -0.94, and a high beta of 2.91.
• Oceanic Iron Ore is an exploration-stage iron ore company holding 100% of the Ungava Bay projects (~35,999 hectares in Nunavik, Quebec) and has a market cap of C$175.7 million.

Shares of Oceanic Iron Ore Corp. (CVE:FEO - ) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$0.84 and traded as high as C$0.86. Oceanic Iron Ore shares last traded at C$0.80, with a volume of 32,990 shares trading hands.

Oceanic Iron Ore Stock Performance

The business has a fifty day simple moving average of C$0.87 and a two-hundred day simple moving average of C$0.84. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The company has a market cap of C$175.70 million, a PE ratio of -0.94 and a beta of 2.91.

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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