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

Shares of Oceanic Iron Ore Corp. (CVE:FEO) traded up 17.1% on Friday . 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 Price Performance

The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. 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 market capitalization of C$22.57 million, a PE ratio of -10.25 and a beta of 0.99.

Insiders Place Their Bets

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

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.