Oceanic Iron Ore (CVE:FEO) Stock Price Up 17.1% – Should You Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price traded up 17.1% on Friday . 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 Stock Up 17.1 %

The company’s 50 day moving average price is C$0.19 and its two-hundred day moving average price is C$0.16. The firm has a market cap of C$22.57 million, a PE 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.

Insider Activity at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were bought 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 owned by corporate 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.