Oceanic Iron Ore (CVE:FEO) Shares Up 66.7% – Here’s Why

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price shot up 66.7% during trading on Thursday . The stock traded as high as C$0.29 and last traded at C$0.28. 818,754 shares were traded 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 firm has a 50-day simple moving average of C$0.18 and a two-hundred day simple moving average of C$0.14. The company has a market capitalization of C$28.07 million, a price-to-earnings ratio of -12.75 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 Transactions at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were purchased 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 Oceanic Iron Ore stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. Insiders have sold 510,000 shares of company stock worth $128,700 over the last quarter. 107.26% of the stock is currently 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.