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

Oceanic Iron Ore Corp. (CVE:FEO) rose 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 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 Price Performance

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

Insiders Place Their Bets

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the firm’s stock in a transaction dated 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. Also, Director Gordon Keep sold 355,000 shares of the stock in a transaction that occurred 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. Insiders sold a total of 541,464 shares of company stock valued at $133,734 over the last 90 days. 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.