Oceanic Iron Ore (CVE:FEO) Trading 66.7% Higher – Should You Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price 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 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 company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The stock has a market cap of C$30.27 million, a PE ratio of -13.75 and a beta of 0.99. The stock has a 50 day moving average of C$0.18 and a two-hundred day moving average of C$0.14.

Insiders Place Their Bets

In related news, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction that occurred 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 acquired 700,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. In the last three months, insiders have sold 510,000 shares of company stock worth $128,700. 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.