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

Shares of Oceanic Iron Ore Corp. (CVE:FEO) shot up 17.1% on Saturday . The company 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 Trading Up 17.1 %

The firm has a market cap of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99. The business’s 50 day moving average is C$0.19 and its 200-day moving average is 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.

Insider Transactions at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha bought 700,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of C$0.18 per share, for a total transaction of C$126,000.00. 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.