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

Oceanic Iron Ore Corp. (CVE:FEO) traded up 66.7% during mid-day trading on Thursday . The company 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 firm 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 debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The firm’s 50 day moving average is C$0.18 and its 200 day moving average is C$0.14.

Insider Transactions at Oceanic Iron Ore

In other 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 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 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 a total of 541,464 shares of company stock valued at $133,734 in the last ninety days. 107.26% of the stock is currently owned by corporate 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.