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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price traded up 17.1% during trading on Saturday . The stock traded as high as C$0.21 and last traded at C$0.21. 26,550 shares traded hands during trading, a decline of 73% from the average session volume of 99,526 shares. The stock had previously closed at C$0.18.

Oceanic Iron Ore Price Performance

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

Insider Buying and Selling

In related news, Director Christopher Ross Batalha bought 700,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were acquired at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. 107.26% of the stock is 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.