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

Oceanic Iron Ore Corp. (CVE:FEO) rose 17.1% during trading on Saturday . The stock traded as high as C$0.21 and last traded at C$0.21. Approximately 26,550 shares changed 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 Trading Up 17.1 %

The company has a 50 day moving average of C$0.19 and a 200 day moving average of C$0.16. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The stock 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 at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha acquired 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 corporate 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.