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

by · The Markets Daily

Oceanic Iron Ore Corp. (CVE:FEO – Get Free Report)’s share price shot up 66.7% during trading on Thursday . The stock traded as high as C$0.29 and last traded at C$0.28. 818,754 shares changed hands 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 Price Performance

The firm has a fifty day moving average of C$0.18 and a two-hundred day moving average of C$0.14. The stock has a market capitalization of C$28.07 million, a P/E ratio of -12.75 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.

Insider Activity

In related news, Director Christopher Ross Batalha acquired 700,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were bought 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 Oceanic Iron Ore 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 quarter, insiders sold 510,000 shares of company stock worth $128,700. 107.26% of the stock is currently owned by corporate 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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