Oceanic Iron Ore (CVE:FEO) Shares Up 21.2% – Should You Buy?

Oceanic Iron Ore Corp. (CVE:FEO) shares were up 21.2% during trading on Thursday . The company traded as high as C$0.21 and last traded at C$0.20. Approximately 127,007 shares were traded during mid-day trading, an increase of 84% from the average daily volume of 69,131 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Price Performance

The firm has a market cap of C$22.02 million, a PE ratio of -10.00 and a beta of 0.99. 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 firm has a 50-day simple moving average of C$0.18 and a 200 day simple moving average of C$0.14.

Insider Activity at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of the company’s 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. Also, Director Christopher Ross Batalha bought 700,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of C$0.18 per share, with a total value of C$126,000.00. Insiders sold 541,464 shares of company stock valued at $133,734 over the last 90 days. 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.