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

Oceanic Iron Ore Corp. (CVE:FEO) shares were up 17.1% on Saturday . The company traded as high as C$0.21 and last traded at C$0.21. Approximately 26,550 shares traded 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 Price Performance

The business’s 50 day moving average price is C$0.19 and its two-hundred day moving average price is C$0.16. The stock has a market cap of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99. 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 Activity

In related news, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of C$0.18 per share, with a total value of C$126,000.00. Insiders own 107.26% of the company’s stock.

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.