Shares of Oceanic Iron Ore Corp. (CVE:FEO – Get Free Report) rose 17.1% on Saturday . The stock traded as high as C$0.21 and last traded at C$0.21. Approximately 26,550 shares traded 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 Price Performance
The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The stock has a fifty day simple moving average of C$0.19 and a 200-day simple moving average of C$0.16. 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 Buying and Selling
In related news, Director Christopher Ross Batalha acquired 700,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were acquired 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 currently owned by insiders.
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.
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