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

Shares of Oceanic Iron Ore Corp. (CVE:FEO) shot up 66.7% during trading on Friday . The stock traded as high as C$0.29 and last traded at C$0.28. 818,754 shares changed 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 company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The stock has a market capitalization of C$28.07 million, a price-to-earnings ratio of -12.75 and a beta of 0.99. The stock’s 50 day simple moving average is C$0.18 and its 200-day simple moving average is C$0.14.

Insider Buying and Selling at Oceanic Iron Ore

In other news, Director Gordon Keep sold 355,000 shares of the business’s stock in a transaction on 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 purchased 700,000 shares of Oceanic Iron Ore 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. Insiders sold 510,000 shares of company stock worth $128,700 over the last ninety days. 107.26% of the stock is currently owned by 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.