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

Oceanic Iron Ore Corp. (CVE:FEO) 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 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 Down 7.3 %

The firm’s 50-day moving average is C$0.18 and its 200-day moving average 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 Transactions 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 bought 700,000 shares of Oceanic Iron Ore stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of C$0.18 per share, with a total value of C$126,000.00. Insiders have sold 510,000 shares of company stock worth $128,700 in the last ninety days. Company 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.