Oceanic Iron Ore (CVE:FEO) Trading Up 66.7% – Still a Buy?

Oceanic Iron Ore Corp. (CVE:FEOGet Free Report)’s stock price traded up 66.7% during trading on Friday . The company traded as high as C$0.29 and last traded at C$0.28. 818,754 shares were traded during mid-day trading, an increase of 344% from the average session volume of 184,422 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Price Performance

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

Insider Activity at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha bought 700,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average cost of C$0.18 per share, with a total value of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the firm’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. Insiders sold a total of 510,000 shares of company stock valued at $128,700 over the last ninety days. Insiders own 107.26% of the company’s stock.

Oceanic Iron Ore Company Profile

(Get Free Report)

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.

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