Insider Buying: Oceanic Iron Ore (CVE:FEO) Director Acquires C$100,230.00 in Stock

Oceanic Iron Ore Corp. (CVE:FEO) Director Jeremy Langford purchased 128,500 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average cost of C$0.78 per share, for a total transaction of C$100,230.00. Following the acquisition, the director directly owned 128,500 shares in the company, valued at C$100,230. This trade represents a ∞ increase in their position.

Oceanic Iron Ore Price Performance

Oceanic Iron Ore stock opened at C$0.77 on Friday. Oceanic Iron Ore Corp. has a 12 month low of C$0.19 and a 12 month high of C$1.15. 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’s 50 day simple moving average is C$0.81 and its 200 day simple moving average is C$0.81. The company has a market cap of C$200.68 million, a price-to-earnings ratio of -1.05 and a beta of 3.06.

Analyst Upgrades and Downgrades

Separately, Haywood Securities set a C$2.00 price objective on Oceanic Iron Ore and gave the company a “buy” rating in a research note on Tuesday, April 7th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Oceanic Iron Ore currently has an average rating of “Buy” and a consensus target price of C$2.00.

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. 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.