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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price rose 17.1% during trading on Friday . The stock 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 Stock Performance

The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The firm has a market cap of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99. The firm’s fifty day moving average price is C$0.19 and its 200 day moving average price is C$0.16.

Insider Activity

In other Oceanic Iron Ore news, Director Christopher Ross Batalha purchased 700,000 shares of Oceanic Iron Ore stock in a transaction dated Friday, November 22nd. The stock was acquired at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Company 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.