Oceanic Iron Ore (CVE:FEO) Shares Up 66.7% – Here’s Why

Oceanic Iron Ore Corp. (CVE:FEO)’s share price 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 changed 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 Trading Down 7.3 %

The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. The firm has a 50-day moving average price of C$0.18 and a 200-day moving average price of C$0.14. The company has a market capitalization of C$28.07 million, a price-to-earnings ratio of -12.75 and a beta of 0.99.

Insider Buying and Selling

In other news, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were bought 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 firm’s stock in a transaction 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. Over the last ninety days, insiders sold 510,000 shares of company stock worth $128,700. Corporate 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.