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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price rose 17.1% during trading on Saturday . 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 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 business’s fifty day simple moving average is C$0.19 and its 200 day simple moving average is C$0.16. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.

Insiders Place Their Bets

In other Oceanic Iron Ore news, Director Christopher Ross Batalha acquired 700,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was purchased at an average price of C$0.18 per share, with a total value 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.