Oceanic Iron Ore (CVE:FEO) Stock Price Up 66.7% – Time to Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price shot 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. 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 market cap of C$28.07 million, a P/E ratio of -12.75 and a beta of 0.99. The firm has a 50 day moving average of C$0.18 and a 200-day moving average of C$0.14. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79.

Insider Buying and Selling

In related news, Director Gordon Keep sold 355,000 shares of the 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 value of C$95,850.00. Also, Director Christopher Ross Batalha acquired 700,000 shares of the company’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, for a total transaction of C$126,000.00. Insiders have sold a total of 510,000 shares of company stock valued at $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.