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

Key Points

• Technical breakout: Oceanic Iron Ore's shares crossed above their 200-day moving average (C$0.84), trading as high as C$0.92 and last at C$0.88 on volume of 90,500 shares.
• Weak financials: The company shows very low liquidity (current ratio 0.03, quick ratio 0.43), a high debt-to-equity ratio (15.79) and a negative P/E (-1.04), signaling it is not currently profitable.
• Exploration-stage profile: Oceanic Iron Ore is an exploration-stage firm with a 100% stake in the Ungava Bay iron property (~35,999 hectares in Nunavik, Québec) and a market cap of C$193.27 million (beta 2.91).

Oceanic Iron Ore Corp. (CVE:FEO - )'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.84 and traded as high as C$0.92. Oceanic Iron Ore shares last traded at C$0.88, with a volume of 90,500 shares.

Oceanic Iron Ore Stock Up 1.1%

The business has a fifty day moving average of C$0.87 and a 200 day moving average of C$0.84. 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 market cap of C$193.27 million, a P/E ratio of -1.04 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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