Oceanic Iron Ore (CVE:FEO) Trading 66.7% Higher – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO) shares were up 66.7% during trading on Thursday . The stock traded as high as C$0.29 and last traded at C$0.28. Approximately 818,754 shares changed hands during trading, an increase of 374% from the average daily volume of 172,588 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Price Performance

The stock has a market cap of C$30.27 million, a P/E ratio of -13.75 and a beta of 0.99. The business has a 50-day simple moving average of C$0.18 and a 200 day simple moving average of C$0.14. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79.

Insider Buying and Selling at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average cost of C$0.18 per share, with a total value of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total value of C$95,850.00. In the last 90 days, insiders sold 541,464 shares of company stock valued at $133,734. 107.26% of the stock is currently 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.