Oceanic Iron Ore (CVE:FEO) Trading 66.7% Higher – Here’s Why

Oceanic Iron Ore Corp. (CVE:FEO) shares shot up 66.7% on Friday . The stock traded as high as C$0.29 and last traded at C$0.28. 818,754 shares traded hands during 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 50-day moving average of C$0.18 and a 200-day moving average of C$0.14. 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 cap of C$30.27 million, a price-to-earnings ratio of -13.75 and a beta of 0.99.

Insider Buying and Selling

In other Oceanic Iron Ore news, Director Christopher Ross Batalha acquired 700,000 shares of the stock in a transaction on Friday, November 22nd. The shares were bought at an average price of C$0.18 per share, with a total value of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the stock in a transaction that occurred 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. Insiders sold a total of 510,000 shares of company stock valued at $128,700 over the last three months. 107.26% of the stock is currently owned by company 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.