Oceanic Iron Ore (CVE:FEO) Given a C$1.50 Price Target at Canaccord Genuity Group

Oceanic Iron Ore (CVE:FEO) has been given a C$1.50 price objective by Canaccord Genuity Group in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 97.37% from the company’s previous close.

Separately, National Bank Financial set a C$1.70 price target on shares of Oceanic Iron Ore and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Oceanic Iron Ore has an average rating of “Buy” and a consensus target price of C$1.73.

Oceanic Iron Ore Price Performance

Oceanic Iron Ore stock traded down C$0.01 during trading hours on Monday, reaching C$0.76. 34,059 shares of the stock were exchanged, compared to its average volume of 117,597. The company has a market cap of C$198.07 million, a P/E ratio of -1.15 and a beta of 2.84. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. Oceanic Iron Ore has a twelve month low of C$0.57 and a twelve month high of C$1.15. The stock has a 50 day moving average of C$0.68 and a two-hundred day moving average of C$0.79.

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.