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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price shot up 66.7% during trading on Thursday . The company traded as high as C$0.29 and last traded at C$0.28. 818,754 shares were traded 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 Down 7.3 %

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

Insider Transactions at Oceanic Iron Ore

In related news, Director Gordon Keep sold 355,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total value of C$95,850.00. Also, Director Christopher Ross Batalha bought 700,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of C$0.18 per share, with a total value of C$126,000.00. Insiders sold 510,000 shares of company stock valued at $128,700 in the last quarter. 107.26% of the stock is currently owned by corporate insiders.

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.