Oceanic Iron Ore (CVE:FEO) Trading Up 21.2% – Time to Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price shot up 21.2% during trading on Thursday . The stock traded as high as C$0.21 and last traded at C$0.20. 127,007 shares traded hands during trading, an increase of 84% from the average session volume of 69,131 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Stock Performance

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

Insider Buying and Selling

In related news, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction dated 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 business’s stock in a transaction 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. Over the last three months, insiders have sold 510,000 shares of company stock valued at $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.