Oceanic Iron Ore (CVE:FEO) Trading Up 21.2% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price shot up 21.2% during trading on Thursday . The company traded as high as C$0.21 and last traded at C$0.20. 127,007 shares changed hands during trading, an increase of 84% from the average session volume of 69,131 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Stock Performance

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 firm has a 50-day moving average price of C$0.18 and a 200 day moving average price of C$0.14. The firm has a market capitalization of C$28.07 million, a PE ratio of -12.75 and a beta of 0.99.

Insider Activity at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were bought 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 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 value of C$95,850.00. Insiders sold 510,000 shares of company stock worth $128,700 in the last three months. 107.26% of the stock is owned by company insiders.

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.