Oceanic Iron Ore Corp. (CVE:FEO – Get Free Report) shares shot 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 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 Up 17.1 %
The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. 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’s 50 day simple moving average is C$0.19 and its 200-day simple moving average is C$0.16.
Insiders Place Their Bets
In related news, Director Christopher Ross Batalha bought 700,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. 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.
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