Oceanic Iron Ore (CVE:FEO) Stock Price Up 8.9% – Time to Buy?
by Mitch Edgeman · The Markets DailyOceanic Iron Ore Corp. (CVE:FEO – Get Free Report) shares shot up 8.9% on Thursday . The stock traded as high as C$0.98 and last traded at C$0.98. 100,501 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 160,130 shares. The stock had previously closed at C$0.90.
Oceanic Iron Ore Trading Up 5.6%
The company has a market capitalization of C$145.31 million, a PE ratio of -1.12 and a beta of 3.05. 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’s fifty day moving average is C$0.76 and its 200-day moving average is C$0.75.
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.