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

Shares of Oceanic Iron Ore Corp. (CVE:FEO) rose 17.1% during trading on Saturday . The stock traded as high as C$0.21 and last traded at C$0.21. Approximately 26,550 shares were traded 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 Trading Up 17.1 %

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 stock has a fifty day simple moving average of C$0.19 and a 200 day simple moving average of C$0.16. The firm has a market capitalization of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99.

Insider Activity at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha purchased 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, for a total transaction of C$126,000.00. 107.26% of the stock is owned by corporate 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.