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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price rose 17.1% during mid-day 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 business has a 50 day moving average of C$0.19 and a 200 day moving average of C$0.16. The firm has a market cap of C$22.57 million, a price-to-earnings ratio of -10.25 and a beta of 0.99. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79.

Insiders Place Their Bets

In other Oceanic Iron Ore news, Director Christopher Ross Batalha purchased 700,000 shares of Oceanic Iron Ore stock in a transaction on Friday, November 22nd. The shares were bought 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 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.