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

Oceanic Iron Ore Corp. (CVE:FEO) shares rose 66.7% during mid-day trading on Thursday . The company traded as high as C$0.29 and last traded at C$0.28. Approximately 818,754 shares were traded 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 Down 7.3 %

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

Insider Buying and Selling at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha purchased 700,000 shares of the business’s 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. Also, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total value of C$95,850.00. Over the last three months, insiders have sold 510,000 shares of company stock worth $128,700. 107.26% of the stock is owned by company insiders.

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.