Oceanic Iron Ore (CVE:FEO) Trading 17.1% Higher – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price was up 17.1% during trading on Friday . The company traded as high as C$0.21 and last traded at C$0.21. Approximately 26,550 shares traded hands during mid-day 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 Up 17.1 %

The business has a fifty day moving average of C$0.19 and a 200 day moving average of C$0.16. The stock 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.

Insider Activity

In other news, Director Christopher Ross Batalha bought 700,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Friday, November 22nd. The stock was purchased 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 company 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.