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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price rose 17.1% during mid-day trading 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 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 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 firm has a market cap of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99.

Insider Buying and Selling

In related news, Director Christopher Ross Batalha acquired 700,000 shares of Oceanic Iron Ore stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of C$0.18 per share, with a total value of C$126,000.00. 107.26% of the stock is currently owned by company insiders.

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.