Oceanic Iron Ore (CVE:FEO) Stock Price Up 66.7% – Time to Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price shot up 66.7% on Thursday . The stock traded as high as C$0.29 and last traded at C$0.28. 818,754 shares changed hands during mid-day trading, an increase of 344% from the average session volume of 184,422 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Price Performance

The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The company has a 50 day moving average of C$0.18 and a two-hundred day moving average of C$0.14. The firm has a market cap of C$28.07 million, a P/E ratio of -12.75 and a beta of 0.99.

Insider Activity

In related news, Director Christopher Ross Batalha acquired 700,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total value of C$95,850.00. In the last quarter, insiders sold 510,000 shares of company stock worth $128,700. Corporate insiders own 107.26% of the company’s stock.

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.