Oceanic Iron Ore (TSXV:FEO) Effective Interest Rate on Debt % : 12.82% (As of Mar. 2024)

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What is Oceanic Iron Ore Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Oceanic Iron Ore's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was C$0.46 Mil. Oceanic Iron Ore's average total debt for the quarter that ended in Mar. 2024 was C$3.62 Mil. Therefore, Oceanic Iron Ore's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 12.82%.

Oceanic Iron Ore Effective Interest Rate on Debt % Historical Data

The historical data trend for Oceanic Iron Ore's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Oceanic Iron Ore Effective Interest Rate on Debt % Chart

Oceanic Iron Ore Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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22.64

6.14

8.32

11.92

13.54

Oceanic Iron Ore Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															10.69	10.90	13.82	15.75	12.82

Competitive Comparison of Oceanic Iron Ore's Effective Interest Rate on Debt %

For the Other Industrial Metals & Mining subindustry, Oceanic Iron Ore's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Oceanic Iron Ore's Effective Interest Rate on Debt % Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Oceanic Iron Ore's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Oceanic Iron Ore's Effective Interest Rate on Debt % falls into.

Oceanic Iron Ore Effective Interest Rate on Debt % Calculation

Oceanic Iron Ore's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -0.539	/	( (4.51	+	3.45)	/ 2 )
=	-1 * -0.539	/	3.98
=	13.54 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	3.434	+	1.076
=	4.51

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	3.357	+	0.093
=	3.45

Oceanic Iron Ore's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Dec. 2023 )	+	Total Debt (Q: Mar. 2024 ))	/ count )
=	-1 * -0.464	/	( (3.45	+	3.787)	/ 2 )
=	-1 * -0.464	/	3.6185
=	12.82 %

where

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	3.357	+	0.093
=	3.45

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	3.787
=	3.787

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Oceanic Iron Ore (TSXV:FEO) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Oceanic Iron Ore Effective Interest Rate on Debt % Related Terms

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Oceanic Iron Ore (TSXV:FEO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Oceanic Iron Ore Corp (TSXV:FEO) » Definitions » Effective Interest Rate on Debt %

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FEOVF:USA

Address

595 Burrard Street, Suite 3083, Three Bentall Centre, Vancouver, BC, CAN, V7X 1L3

Website

https://www.oceanicironore.com

Oceanic Iron Ore Corp is an exploration-stage company. It is engaged in the acquisition and exploration of iron ore properties in Quebec, Canada. The company focuses on the operations of the Ungava Bay iron property in Nunavik, Quebec which consists of three project areas: Hopes Advance, Morgan Lake, and Roberts Lake.

Executives