Oceanic Iron Ore (CVE:FEO) Shares Up 17.1% – Here’s Why

Shares of Oceanic Iron Ore Corp. (CVE:FEO) shot up 17.1% during trading on Friday . The company 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 Stock Performance

The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The stock’s 50-day simple moving average is C$0.19 and its 200 day simple moving average is C$0.16. The stock has a market capitalization of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99.

Insider Buying and Selling

In other Oceanic Iron Ore news, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction on Friday, November 22nd. The stock was purchased at an average price of C$0.18 per share, with a total value of C$126,000.00. 107.26% of the stock is currently owned by company 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.