Oceanic Iron Ore (CVE:FEO) Trading Up 39.4% – Here’s Why

Shares of Oceanic Iron Ore Corp. (CVE:FEO) rose 39.4% on Thursday . The stock traded as high as C$0.23 and last traded at C$0.23. Approximately 423,936 shares traded hands during mid-day trading, an increase of 468% from the average daily volume of 74,631 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Price Performance

The company has a market capitalization of C$30.82 million, a PE ratio of -14.00 and a beta of 0.99. The stock has a 50 day moving average price of C$0.18 and a two-hundred day moving average price of 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.

Insiders Place Their Bets

In other news, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction that occurred 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 firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average cost of C$0.18 per share, with a total value of C$126,000.00. Insiders sold 541,464 shares of company stock valued at $133,734 over the last ninety days. Corporate insiders own 107.26% of the company’s stock.

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.