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

Shares of Oceanic Iron Ore Corp. (CVE:FEO) traded up 66.7% on Friday . The company traded as high as C$0.29 and last traded at C$0.28. 818,754 shares traded hands during 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 Trading Up 66.7 %

The company’s 50 day moving average price is C$0.18 and its two-hundred day moving average price is C$0.14. The firm has a market cap of C$30.27 million, a PE ratio of -13.75 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.

Insider Buying and Selling

In other Oceanic Iron Ore news, Director Christopher Ross Batalha bought 700,000 shares of the firm’s stock in a transaction dated 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. Insiders have sold 510,000 shares of company stock valued at $128,700 in the last ninety days. 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.