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

Shares of Oceanic Iron Ore Corp. (CVE:FEO) shot up 17.1% on Saturday . The company 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 Trading Up 17.1 %

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 stock has a market capitalization of C$22.57 million, a PE ratio of -10.25 and a beta of 0.99. The stock has a 50-day moving average price of C$0.19 and a two-hundred day moving average price of C$0.16.

Insider Buying and Selling

In other Oceanic Iron Ore news, Director Christopher Ross Batalha purchased 700,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were bought 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 insiders.

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.