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

Oceanic Iron Ore Corp. (CVE:FEO) shares were up 66.7% on Thursday . The stock traded as high as C$0.29 and last traded at C$0.28. Approximately 818,754 shares traded 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 Trading Down 7.3 %

The company has a market cap of C$28.07 million, a P/E ratio of -12.75 and a beta of 0.99. 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 firm’s 50-day moving average price is C$0.18 and its 200-day moving average price is C$0.14.

Insider Buying and Selling at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. Also, Director Christopher Ross Batalha purchased 700,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was purchased at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Insiders have sold 510,000 shares of company stock valued at $128,700 in the last 90 days. 107.26% of the stock is currently owned by company 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.