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

Oceanic Iron Ore Corp. (CVE:FEO) traded 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 changed hands during 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 PE ratio of -12.75 and a beta of 0.99. 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 firm’s 50 day moving average is C$0.18 and its 200-day moving average is C$0.14.

Insider Activity at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha purchased 700,000 shares of Oceanic Iron Ore stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of C$0.18 per share, with a total value of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the company’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 value of C$95,850.00. In the last quarter, insiders sold 510,000 shares of company stock valued at $128,700. Corporate 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.