Oceanic Iron Ore (CVE:FEO) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

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$0.59 and traded as high as C$0.79. Oceanic Iron Ore shares last traded at C$0.79, with a volume of 10,146 shares traded.

Oceanic Iron Ore Trading Down 1.3%

The stock has a market cap of C$120.84 million, a price-to-earnings ratio of -0.93 and a beta of 3.27. The business’s 50 day moving average is C$0.85 and its 200 day moving average is C$0.59. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.

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.