Oceanic Iron Ore (CVE:FEO) Shares Up 66.7% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO) shares rose 66.7% during trading on Thursday . The stock traded as high as C$0.29 and last traded at C$0.28. Approximately 818,754 shares changed hands during mid-day trading, an increase of 374% from the average daily volume of 172,588 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Price Performance

The business’s 50 day moving average is C$0.18 and its two-hundred day moving average is C$0.14. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The firm has a market capitalization of C$30.27 million, a PE ratio of -13.75 and a beta of 0.99.

Insider Activity at Oceanic Iron Ore

In other news, Director Gordon Keep sold 355,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were 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 stock in a transaction that occurred on Friday, November 22nd. The stock was acquired at an average price of C$0.18 per share, for a total transaction of C$126,000.00. In the last three months, insiders have sold 541,464 shares of company stock worth $133,734. 107.26% of the stock is owned by company insiders.

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.