Oceanic Iron Ore (CVE:FEO) Shares Up 8.9% – Still a Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price traded up 8.9% during trading on Thursday . The company traded as high as C$0.98 and last traded at C$0.98. 100,501 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 160,130 shares. The stock had previously closed at C$0.90.

Oceanic Iron Ore Price Performance

The firm has a market cap of C$146.84 million, a PE ratio of -1.13 and a beta of 3.05. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The stock has a 50 day moving average price of C$0.77 and a two-hundred day moving average price of C$0.76.

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. The company was formerly known as Pacific Harbour Capital Ltd. and changed its name to Oceanic Iron Ore Corp. in November 2010. Oceanic Iron Ore Corp.