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

Oceanic Iron Ore Corp. (CVE:FEO) traded up 66.7% during trading on Thursday . The stock traded as high as C$0.29 and last traded at C$0.28. 818,754 shares traded hands during mid-day 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 Trading Up 66.7 %

The company’s fifty day simple moving average is C$0.18 and its 200-day simple moving average is C$0.14. The firm has a market capitalization of C$30.27 million, a PE 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.

Insider Buying and Selling

In related news, Director Gordon Keep sold 355,000 shares of the company’s 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. Also, Director Christopher Ross Batalha acquired 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average price of C$0.18 per share, with a total value of C$126,000.00. In the last three months, insiders have sold 541,464 shares of company stock worth $133,734. 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.