Oceanic Iron Ore (CVE:FEO) Trading 66.7% Higher – Time to Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price was up 66.7% during trading on Thursday . The stock traded as high as C$0.29 and last traded at C$0.28. Approximately 818,754 shares were traded during mid-day trading, an increase of 374% from the average daily volume of 172,588 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Stock Performance

The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The business has a 50 day moving average price of C$0.18 and a 200 day moving average price of C$0.14. The stock has a market capitalization of C$28.07 million, a PE ratio of -12.75 and a beta of 0.99.

Insider Transactions at Oceanic Iron Ore

In other news, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total value of C$95,850.00. Also, Director Christopher Ross Batalha acquired 700,000 shares of the firm’s stock in a transaction dated 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. Over the last 90 days, insiders have sold 510,000 shares of company stock worth $128,700. Corporate insiders own 107.26% of the company’s stock.

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.