Oceanic Iron Ore (CVE:FEO) Stock Price Up 66.7% – Here’s Why

Oceanic Iron Ore Corp. (CVE:FEO) shares were up 66.7% during mid-day 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 344% from the average daily volume of 184,422 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Price Performance

The firm has a market capitalization of C$30.27 million, a P/E ratio of -13.75 and a beta of 0.99. The stock’s fifty day simple moving average is C$0.18 and its 200 day simple moving average is C$0.14. 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 Christopher Ross Batalha purchased 700,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were acquired at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Also, 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 value of C$95,850.00. Insiders sold 541,464 shares of company stock valued at $133,734 over the last 90 days. Insiders own 107.26% of the company’s stock.

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.