Oceanic Iron Ore (CVE:FEO) Trading 39.4% Higher – Time to Buy?

Oceanic Iron Ore Corp. (CVE:FEO) shot up 39.4% during mid-day trading on Thursday . The company traded as high as C$0.23 and last traded at C$0.23. 423,936 shares were traded during mid-day trading, an increase of 468% from the average session volume of 74,631 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Price Performance

The company’s 50-day moving average price is C$0.18 and its 200-day moving average price is C$0.14. 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. 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 Buying and Selling at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of the business’s 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 purchased 700,000 shares of the firm’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. Insiders sold a total of 510,000 shares of company stock valued at $128,700 in the last ninety days. 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.