Oceanic Iron Ore (CVE:FEO) Shares Pass Above 200-Day Moving Average - Should You Sell?

Key Points

• Shares passed above its 200-day moving average (200‑day MA C$0.82), trading as high as C$0.89 before last at C$0.81 on volume 95,014, although the stock is currently down about 4.7%.
• Haywood Securities set a C$2.00 price objective and a "buy" rating; MarketBeat shows an average analyst rating of "Buy" with an average price target of C$2.00 (one analyst coverage).
• Oceanic is an exploration‑stage iron ore company with 100% interest in the Ungava Bay projects, but it has weak liquidity and leverage metrics — current ratio 0.03, quick ratio 0.43 and debt‑to‑equity 15.79 — and a negative PE, market cap ~C$177.9M.

Shares of Oceanic Iron Ore Corp. (CVE:FEO - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$0.82 and traded as high as C$0.89. Oceanic Iron Ore shares last traded at C$0.81, with a volume of 95,014 shares traded.

Wall Street Analysts Forecast Growth

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 investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of C$2.00.

Oceanic Iron Ore Stock Down 4.7%

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 company has a market cap of C$177.90 million, a PE ratio of -0.95 and a beta of 2.96. The stock has a 50-day moving average of C$0.86 and a 200-day moving average of C$0.82.

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. 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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