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

Oceanic Iron Ore Corp. (CVE:FEO) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$0.76 and traded as high as C$0.78. Oceanic Iron Ore shares last traded at C$0.77, with a volume of 85,710 shares.

Wall Street Analysts Forecast Growth

FEO has been the subject of a number of research reports. Canaccord Genuity Group set a C$1.50 target price on shares of Oceanic Iron Ore and gave the company a “moderate buy” rating in a report on Monday, August 31st. National Bank Financial set a C$1.70 price objective on Oceanic Iron Ore and gave the stock an “outperform” rating in a research note on Wednesday, June 10th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Oceanic Iron Ore has a consensus rating of “Buy” and an average target price of C$1.73.

Oceanic Iron Ore Stock Down 1.3%

The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The company’s 50-day moving average price is C$0.72 and its 200 day moving average price is C$0.76. The stock has a market capitalization of C$198.75 million, a P/E ratio of -1.15 and a beta of 3.00.

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.