Oceanic Iron Ore (CVE:FEO) Trading 66.7% Higher – Still a Buy?

by · The Markets Daily

Oceanic Iron Ore Corp. (CVE:FEO – Get Free Report) rose 66.7% on Friday . The stock traded as high as C$0.29 and last traded at C$0.28. Approximately 818,754 shares changed hands during mid-day 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 stock has a fifty day moving average price of C$0.18 and a 200-day moving average price of C$0.14. The firm has a market cap of C$30.27 million, a PE ratio of -13.75 and a beta of 0.99. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03.

Insiders Place Their Bets

In related news, Director Gordon Keep sold 355,000 shares of the business’s stock in a transaction dated 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 acquired 700,000 shares of the stock in a transaction on Friday, November 22nd. The shares were acquired at an average price of C$0.18 per share, with a total value of C$126,000.00. Insiders sold a total of 510,000 shares of company stock worth $128,700 over the last ninety days. 107.26% of the stock is owned by company insiders.

About Oceanic Iron Ore

(Get Free Report)

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.

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