Oceanic Iron Ore (CVE:FEO) Trading 17.1% Higher – Here’s Why

Oceanic Iron Ore Corp. (CVE:FEO)’s share price traded up 17.1% during mid-day trading on Friday . The stock traded as high as C$0.21 and last traded at C$0.21. 26,550 shares traded hands during 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 Price Performance

The stock has a market cap of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99. 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 business has a 50 day simple moving average of C$0.19 and a 200-day simple moving average of C$0.16.

Insider Buying and Selling at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha purchased 700,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of C$0.18 per share, with a total value of C$126,000.00. Corporate 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.