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

Oceanic Iron Ore Corp. (CVE:FEO) was up 66.7% during mid-day trading on Friday . The company traded as high as C$0.29 and last traded at C$0.28. Approximately 818,754 shares traded hands 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 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 fifty day simple moving average is C$0.18 and its 200 day simple moving average is C$0.14. The stock has a market capitalization of C$30.27 million, a price-to-earnings ratio of -13.75 and a beta of 0.99.

Insider Buying and Selling

In other Oceanic Iron Ore news, 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 acquired at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the firm’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. Insiders have sold a total of 510,000 shares of company stock worth $128,700 over the last ninety days. Company insiders own 107.26% of the company’s stock.

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.