Oceanic Iron Ore (CVE:FEO) Trading 21.2% Higher – Here’s Why

Shares of Oceanic Iron Ore Corp. (CVE:FEO) were up 21.2% during mid-day trading on Thursday . The company traded as high as C$0.21 and last traded at C$0.20. Approximately 157,007 shares were traded during mid-day trading, an increase of 112% from the average daily volume of 74,131 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Stock Up 21.2 %

The firm has a market cap of C$22.02 million, a P/E ratio of -10.00 and a beta of 0.99. The business has a fifty day moving average of C$0.18 and a 200 day moving average of C$0.14. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79.

Insider Activity

In related news, Director Gordon Keep sold 355,000 shares of the firm’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. Also, Director Christopher Ross Batalha purchased 700,000 shares of the business’s stock in a transaction dated 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. Insiders sold 541,464 shares of company stock valued at $133,734 in the last quarter. 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.