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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price 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 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 Down 7.3 %

The firm has a market cap of C$28.07 million, a P/E ratio of -12.75 and a beta of 0.99. The firm’s 50-day moving average price is C$0.18 and its 200 day moving average price is C$0.14. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79.

Insiders Place Their Bets

In related news, Director Gordon Keep sold 355,000 shares of the company’s stock in a transaction dated 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 bought 700,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average price of C$0.18 per share, with a total value of C$126,000.00. In the last 90 days, insiders sold 510,000 shares of company stock worth $128,700. 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.