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

Oceanic Iron Ore Corp. (CVE:FEO) shares traded up 17.1% during mid-day trading on Friday . The company traded as high as C$0.21 and last traded at C$0.21. 26,550 shares changed 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 Price Performance

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 business has a fifty day moving average price of C$0.19 and a 200-day moving average price of C$0.16. The stock has a market capitalization of C$22.57 million, a PE ratio of -10.25 and a beta of 0.99.

Insider Buying and Selling

In other Oceanic Iron Ore news, Director Christopher Ross Batalha purchased 700,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was purchased 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.

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.