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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price traded up 17.1% on Saturday . The stock traded as high as C$0.21 and last traded at C$0.21. 26,550 shares were traded 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 Performance

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. The firm has a fifty day simple moving average of C$0.19 and a 200 day simple moving average of C$0.16. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.

Insider Activity at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha bought 700,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average price 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.