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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price was 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. Approximately 26,550 shares traded hands 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 Stock Up 17.1 %

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 PE ratio of -10.25 and a beta of 0.99. 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 Buying and Selling at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha acquired 700,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were bought 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 company insiders.

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.