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

Oceanic Iron Ore Corp. (CVE:FEO) shares shot 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 were traded during mid-day trading, an increase of 344% from the average session 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 Buying and Selling

In other Oceanic Iron Ore news, Director Christopher Ross Batalha bought 700,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average cost of C$0.18 per share, with a total value 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 a total of 541,464 shares of company stock worth $133,734 in the last 90 days. 107.26% of the stock is owned by corporate 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.