Oceanic Iron Ore (CVE:FEO) Trading 21.2% Higher – Time to Buy?

Shares of Oceanic Iron Ore Corp. (CVE:FEO) shot up 21.2% on Thursday . The company traded as high as C$0.21 and last traded at C$0.20. 157,007 shares traded hands during mid-day trading, an increase of 112% from the average session volume of 74,131 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Stock Performance

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

Insider Activity

In related news, 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. Also, Director Christopher Ross Batalha acquired 700,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average cost of C$0.18 per share, with a total value of C$126,000.00. Over 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.