Oceanic Iron Ore (CVE:FEO) Stock Price Up 17.1% – Here’s Why

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

The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. The stock has a 50-day simple moving average of C$0.19 and a 200-day simple moving average of C$0.16. The company has a market capitalization of C$22.57 million, a price-to-earnings ratio of -10.25 and a beta of 0.99.

Insider Buying and Selling at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Christopher Ross Batalha acquired 700,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was acquired 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 currently owned by 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.