Oceanic Iron Ore (CVE:FEO) Stock Price Up 10%

Shares of Oceanic Iron Ore Corp (CVE:FEO) rose 10% during mid-day trading on Wednesday . The stock traded as high as C$0.06 and last traded at C$0.06, approximately 251,000 shares changed hands during trading. An increase of 493% from the average daily volume of 42,327 shares. The stock had previously closed at C$0.05.

The company’s fifty day moving average price is C$0.08 and its 200-day moving average price is C$0.09. The stock has a market capitalization of $3.45 million and a PE ratio of -1.62. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 12.06.

Oceanic Iron Ore (CVE:FEO) last released its earnings results on Tuesday, August 20th. The company reported C($0.01) earnings per share (EPS) for the quarter. Equities research analysts anticipate that Oceanic Iron Ore Corp will post -0.06 earnings per share for the current year.

About Oceanic Iron Ore (CVE:FEO)

Oceanic Iron Ore Corp., an exploration stage company, acquires and explores for iron ore properties in Québec, Canada. It holds a 100% interest in the Ungava Bay iron property that covers three project areas, including Hopes Advance, Morgan Lake, and Roberts Lake, which covers approximately 39,717 hectares of iron formation located in the Nunavik region of Northern Québec.

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