Oceanic Iron Ore (CVE:FEO) Trading Up 66.7% – Time to Buy?

Oceanic Iron Ore Corp. (CVE:FEO) shares were up 66.7% on Friday . The company traded as high as C$0.29 and last traded at C$0.28. Approximately 818,754 shares traded hands during mid-day trading, an increase of 344% from the average daily volume of 184,422 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Stock Down 7.3 %

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 business’s fifty day simple moving average is C$0.18 and its two-hundred day simple moving average is C$0.14. The company has a market cap of C$28.07 million, a PE ratio of -12.75 and a beta of 0.99.

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 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 bought 700,000 shares of the business’s stock in a transaction dated 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. Over the last quarter, insiders sold 510,000 shares of company stock valued at $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.