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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price shot up 17.1% during mid-day trading on Friday . The company traded as high as C$0.21 and last traded at C$0.21. 26,550 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 99,526 shares. The stock had previously closed at C$0.18.

Oceanic Iron Ore Stock Up 17.1 %

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

Insiders Place Their Bets

In other news, Director Christopher Ross Batalha acquired 700,000 shares of the stock in a transaction dated 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. Insiders own 107.26% of the company’s stock.

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.