Oceanic Iron Ore (CVE:FEO) Shares Up 39.4% – Time to Buy?

Oceanic Iron Ore Corp. (CVE:FEO) traded up 39.4% on Thursday . The stock traded as high as C$0.23 and last traded at C$0.23. 423,936 shares changed hands during trading, an increase of 468% from the average session volume of 74,631 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Stock Performance

The stock has a market cap of C$30.82 million, a P/E ratio of -14.00 and a beta of 0.99. The firm has a 50 day moving average of C$0.18 and a two-hundred day moving average of C$0.14. 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 other news, Director Gordon Keep sold 355,000 shares of the business’s 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 transaction of C$95,850.00. Also, 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 purchased at an average cost of C$0.18 per share, with a total value of C$126,000.00. Insiders have sold 541,464 shares of company stock worth $133,734 in the last ninety 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.