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

Oceanic Iron Ore Corp. (CVE:FEO) shares shot up 17.1% during trading on Saturday . The company traded as high as C$0.21 and last traded at C$0.21. 26,550 shares traded hands during mid-day 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 Stock Up 17.1 %

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

Insider Activity

In related news, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was 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 owned by corporate 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.