Oceanic Iron Ore (CVE:FEO) Shares Pass Above 200-Day Moving Average – Here’s Why

Shares of Oceanic Iron Ore Corp. (CVE:FEO) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.11 and traded as high as C$0.21. Oceanic Iron Ore shares last traded at C$0.20, with a volume of 176,223 shares traded.

Oceanic Iron Ore Price Performance

The stock has a market capitalization of C$22.02 million, a price-to-earnings ratio of -10.00 and a beta of 0.99. 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 stock has a fifty day moving average of C$0.16 and a 200-day moving average of C$0.11.

Oceanic Iron Ore (CVE:FEO) last posted its earnings results on Thursday, August 22nd. The company reported C($0.02) EPS for the quarter. On average, equities research analysts predict that Oceanic Iron Ore Corp. will post -0.06 EPS for the current fiscal year.

Insider Activity

In related news, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. In the last three months, insiders sold 541,464 shares of company stock valued at $133,734. Insiders own 107.26% of the company’s stock.

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.