Oceanic Iron Ore (CVE:FEO) Stock Price Up 17.1% – Time to Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price rose 17.1% during mid-day trading on Saturday . The stock traded as high as C$0.21 and last traded at C$0.21. Approximately 26,550 shares were traded 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 Stock Performance

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

Insider Transactions at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average cost of C$0.18 per share, with a total value of C$126,000.00. 107.26% of the stock is currently owned by company 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.