Oceanic Iron Ore Corp. (CVE:FEO – Get Free Report) shares rose 17.1% during mid-day trading on Friday . The company traded as high as C$0.21 and last traded at C$0.21. Approximately 26,550 shares changed hands during mid-day 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 Trading Up 17.1 %
The business has a fifty day moving average of C$0.19 and a 200-day moving average of C$0.16. 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 company 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 the stock in a transaction that occurred on Friday, November 22nd. The stock was acquired 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 company insiders.
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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