Oceanic Iron Ore (CVE:FEO) Shares Up 66.7% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO)’s share price shot up 66.7% during mid-day trading on Friday . The stock traded as high as C$0.29 and last traded at C$0.28. 818,754 shares were traded 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 Stock Performance

The firm’s fifty day moving average price is C$0.18 and its 200-day moving average price is C$0.14. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. The firm has a market cap of C$28.07 million, a price-to-earnings ratio of -12.75 and a beta of 0.99.

Insider Activity

In other Oceanic Iron Ore news, Director Christopher Ross Batalha purchased 700,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Friday, November 22nd. The stock was purchased 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 company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. In the last quarter, insiders sold 510,000 shares of company stock worth $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.