Oceanic Iron Ore (CVE:FEO) Trading 66.7% Higher – What’s Next?

Shares of Oceanic Iron Ore Corp. (CVE:FEO) were up 66.7% on Thursday . The company traded as high as C$0.29 and last traded at C$0.28. Approximately 818,754 shares were traded during 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 Up 66.7 %

The firm has a 50 day moving average price of C$0.18 and a 200-day moving average price of C$0.14. The firm has a market cap of C$30.27 million, a price-to-earnings ratio of -13.75 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

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of the firm’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 bought 700,000 shares of the firm’s stock in a transaction dated 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. In the last quarter, insiders have sold 541,464 shares of company stock valued at $133,734. 107.26% of the stock is currently owned by insiders.

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.