Oceanic Iron Ore (CVE:FEO) Shares Up 17.1% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO) shot up 17.1% on Friday . The stock traded as high as C$0.21 and last traded at C$0.21. 26,550 shares were traded 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 stock has a market cap of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99. 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 has a 50-day moving average price of C$0.19 and a two-hundred day moving average price of C$0.16.

Insider Activity

In other news, Director Christopher Ross Batalha purchased 700,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average price of C$0.18 per share, with a total value of C$126,000.00. Corporate insiders own 107.26% of the company’s stock.

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.