Oceanic Iron Ore (CVE:FEO) Shares Up 17.1% – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price rose 17.1% during trading on Saturday . The stock traded as high as C$0.21 and last traded at C$0.21. Approximately 26,550 shares changed hands during trading, a decline of 73% from the average daily volume of 99,526 shares. The stock had previously closed at C$0.18.

Oceanic Iron Ore Price Performance

The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The firm’s 50 day moving average is C$0.19 and its 200 day moving average is C$0.16. The firm has a market cap of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99.

Insider Buying and Selling

In other Oceanic Iron Ore news, Director Christopher Ross Batalha acquired 700,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average price of C$0.18 per share, with a total value of C$126,000.00. 107.26% of the stock is currently owned by insiders.

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.