Oceanic Iron Ore (CVE:FEO) Shares Up 66.7% – Still a Buy?

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

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

Insider Activity at Oceanic Iron Ore

In other news, Director Gordon Keep sold 355,000 shares of the 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. Also, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was bought at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Insiders sold a total of 510,000 shares of company stock worth $128,700 over the last quarter. 107.26% of the stock is owned by corporate insiders.

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.