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

Oceanic Iron Ore Corp. (CVE:FEO) 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 changed 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 Stock Up 17.1 %

The firm has a 50 day simple moving average of C$0.19 and a two-hundred day simple moving average of C$0.16. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The stock has a market capitalization of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99.

Insiders Place Their Bets

In other Oceanic Iron Ore news, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was purchased at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Corporate insiders own 107.26% of the company’s stock.

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.