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

Oceanic Iron Ore Corp. (CVE:FEO) rose 17.1% during trading on Friday . The company traded as high as C$0.21 and last traded at C$0.21. Approximately 26,550 shares were traded 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 Performance

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

Insiders Place Their Bets

In related news, Director Christopher Ross Batalha acquired 700,000 shares of Oceanic Iron Ore stock in a transaction dated Friday, November 22nd. The shares were purchased 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.

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.