Oceanic Iron Ore (CVE:FEO) Trading 66.7% Higher – Still a Buy?

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

Oceanic Iron Ore Stock Up 66.7 %

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 stock has a market cap of C$30.27 million, a P/E ratio of -13.75 and a beta of 0.99. The company has a 50-day simple moving average of C$0.18 and a two-hundred day simple moving average of C$0.14.

Insider Activity at Oceanic Iron Ore

In related news, 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. Also, Director Christopher Ross Batalha purchased 700,000 shares of the business’s stock in a transaction that occurred on 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. Insiders sold 541,464 shares of company stock worth $133,734 in the last three months. 107.26% of the stock is 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.