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

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

Oceanic Iron Ore Trading Up 17.1 %

The company has a market cap of C$22.57 million, a price-to-earnings ratio of -10.25 and a beta of 0.99. 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 fifty day moving average price is C$0.19 and its 200-day moving average price is C$0.16.

Insider Activity

In related news, Director Christopher Ross Batalha acquired 700,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Corporate 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.