Oceanic Iron Ore (CVE:FEO) PT Set at C$1.70 by National Bank Financial

Oceanic Iron Ore (CVE:FEO) has been assigned a C$1.70 target price by equities researchers at National Bank Financial in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 136.11% from the company’s current price.

Separately, Haywood Securities set a C$2.00 price target on Oceanic Iron Ore and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$1.85.

Oceanic Iron Ore Stock Up 2.9%

FEO stock traded up C$0.02 during trading on Wednesday, reaching C$0.72. 384,661 shares of the company traded hands, compared to its average volume of 124,527. The business has a 50 day simple moving average of C$0.80 and a 200 day simple moving average of C$0.81. The company has a market capitalization of C$187.65 million, a price-to-earnings ratio of -0.99 and a beta of 2.71. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. Oceanic Iron Ore has a 12 month low of C$0.19 and a 12 month high of C$1.15.

Insider Activity

In other news, Director Jeremy Langford bought 128,500 shares of the stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average cost of C$0.78 per share, with a total value of C$100,230.00. Following the purchase, the director directly owned 128,500 shares in the company, valued at C$100,230. The trade was a ∞ increase in their position. 9.00% of the stock is currently owned by insiders.

Oceanic Iron Ore Company Profile

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.