Oceanic Iron Ore (CVE:FEO) Trading 17.1% Higher – Still a Buy?

Oceanic Iron Ore Corp. (CVE:FEO) shot up 17.1% during mid-day trading on Saturday . 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 Trading 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’s fifty day moving average is C$0.19 and its 200-day moving average is C$0.16. The firm 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 related news, Director Christopher Ross Batalha purchased 700,000 shares of Oceanic Iron Ore stock in a transaction on Friday, November 22nd. The stock was purchased at an average cost of C$0.18 per share, with a total value of C$126,000.00. 107.26% of the stock is owned by 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.