Oceanic Iron Ore (CVE:FEO) Shares Up 66.7% – Should You Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price traded up 66.7% during trading on Friday . The stock traded as high as C$0.29 and last traded at C$0.28. 818,754 shares traded hands during mid-day 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 Stock Performance

The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The stock has a market cap of C$28.07 million, a PE ratio of -12.75 and a beta of 0.99. The company’s 50 day simple moving average is C$0.18 and its 200 day simple moving average is C$0.14.

Insider Buying and Selling at Oceanic Iron Ore

In other news, Director Gordon Keep sold 355,000 shares of the firm’s 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 transaction of C$95,850.00. Also, Director Christopher Ross Batalha purchased 700,000 shares of the firm’s stock in a transaction dated 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. In the last 90 days, insiders sold 510,000 shares of company stock worth $128,700. Insiders own 107.26% of the company’s stock.

Oceanic Iron Ore Company Profile

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.