Oceanic Iron Ore (CVE:FEO) Trading 66.7% Higher – 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. 818,754 shares traded 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$28.07 million, a P/E ratio of -12.75 and a beta of 0.99. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The business’s 50-day simple moving average is C$0.18 and its 200 day simple moving average is C$0.14.

Insider Activity at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha acquired 700,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. In the last 90 days, insiders have sold 510,000 shares of company stock valued at $128,700. 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.