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

Oceanic Iron Ore Corp. (CVE:FEO) shares rose 17.1% on Friday . The company traded as high as C$0.21 and last traded at C$0.21. Approximately 26,550 shares were traded 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 Trading Up 17.1 %

The business’s 50 day moving average price is C$0.19 and its two-hundred day moving average price is C$0.16. 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 company has a market capitalization of C$22.57 million, a price-to-earnings ratio of -10.25 and a beta of 0.99.

Insider Activity

In related news, Director Christopher Ross Batalha acquired 700,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of C$0.18 per share, for a total transaction of C$126,000.00. 107.26% of the stock is currently owned by corporate 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.