Oceanic Iron Ore (CVE:FEO) Director Jeremy Langford Purchases 128,500 Shares

Oceanic Iron Ore Corp. (CVE:FEO) Director Jeremy Langford purchased 128,500 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was acquired at an average cost of C$0.78 per share, with a total value of C$100,230.00. Following the completion of the acquisition, the director directly owned 128,500 shares of the company’s stock, valued at C$100,230. This represents a ∞ increase in their ownership of the stock.

Oceanic Iron Ore Stock Performance

CVE FEO traded down C$0.02 on Thursday, reaching C$0.78. The stock had a trading volume of 34,600 shares, compared to its average volume of 124,300. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. Oceanic Iron Ore Corp. has a 12-month low of C$0.19 and a 12-month high of C$1.15. The business’s 50-day moving average price is C$0.81 and its 200 day moving average price is C$0.81. The stock has a market cap of C$203.29 million, a P/E ratio of -1.07 and a beta of 3.06.

Wall Street Analyst Weigh In

Separately, Haywood Securities set a C$2.00 price objective on Oceanic Iron Ore and gave the company a “buy” rating in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$2.00.

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. The company was formerly known as Pacific Harbour Capital Ltd. and changed its name to Oceanic Iron Ore Corp. in November 2010. Oceanic Iron Ore Corp.