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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price was up 17.1% 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 Stock Performance

The company has a 50-day simple moving average of C$0.19 and a two-hundred day simple moving average of 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 firm has a market capitalization of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99.

Insider Buying and Selling at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was purchased at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Insiders own 107.26% of the company’s stock.

Oceanic Iron Ore Company Profile

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.