Oceanic Iron Ore (CVE:FEO) Trading Up 17.1% – Should You Buy?

Shares of Oceanic Iron Ore Corp. (CVE:FEO) rose 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 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 stock 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. The business’s 50 day simple moving average is C$0.19 and its 200 day simple moving average is C$0.16.

Insider Buying and Selling at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha bought 700,000 shares of the business’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. Corporate 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.