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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price 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 traded 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 Trading Down 7.3 %

The firm has a market capitalization of C$28.07 million, a PE ratio of -12.75 and a beta of 0.99. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The firm has a fifty day moving average of C$0.18 and a 200 day moving average of C$0.14.

Insider Activity at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha bought 700,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was bought 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 Oceanic Iron Ore stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total value of C$95,850.00. In the last ninety days, insiders have sold 510,000 shares of company stock worth $128,700. 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.