Oceanic Iron Ore (CVE:FEO) Shares Up 66.7% – Still a Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price rose 66.7% during trading on Friday . The company traded as high as C$0.29 and last traded at C$0.28. Approximately 818,754 shares were traded during 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 Stock Up 66.7 %

The stock has a market cap of C$30.27 million, a price-to-earnings ratio of -13.75 and a beta of 0.99. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The firm’s 50-day simple moving average is C$0.18 and its two-hundred day simple moving average is C$0.14.

Insider Activity at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of the company’s stock in a transaction on 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 purchased 700,000 shares of Oceanic Iron Ore stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Insiders sold a total of 510,000 shares of company stock valued at $128,700 over the last quarter. Corporate 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.