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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price traded up 17.1% on Saturday . The stock traded as high as C$0.21 and last traded at C$0.21. 26,550 shares changed 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 Price Performance

The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The firm has a market cap of C$22.57 million, a price-to-earnings ratio of -10.25 and a beta of 0.99. The company’s fifty day moving average is C$0.19 and its two-hundred day moving average is C$0.16.

Insiders Place Their Bets

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 acquired 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 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.