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

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

The firm 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 current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. The stock has a 50 day simple moving average of C$0.19 and a 200-day simple moving average of C$0.16.

Insider Activity

In related news, Director Christopher Ross Batalha bought 700,000 shares of the business’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.

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.