Oceanic Iron Ore (CVE:FEO) Trading 10.3% Higher – Still a Buy?

Shares of Oceanic Iron Ore Corp. (CVE:FEO) traded up 10.3% during trading on Wednesday . The stock traded as high as C$0.16 and last traded at C$0.16. 194,500 shares were traded during mid-day trading, an increase of 269% from the average session volume of 52,755 shares. The stock had previously closed at C$0.15.

Oceanic Iron Ore Trading Down 7.3 %

The stock’s 50 day simple moving average is C$0.18 and its two-hundred day simple moving average is C$0.14. The stock 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 current ratio of 0.03 and a quick ratio of 0.43.

Insider Activity at Oceanic Iron Ore

In other news, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction 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 acquired 700,000 shares of the firm’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, for a total transaction of C$126,000.00. Over the last quarter, insiders have sold 510,000 shares of company stock worth $128,700. Insiders own 107.26% of the company’s stock.

About Oceanic Iron Ore

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.