Oceanic Iron Ore (CVE:FEO) Stock Price Up 66.7% – Here’s Why

Oceanic Iron Ore Corp. (CVE:FEO) shares shot up 66.7% on Friday . The stock traded as high as C$0.29 and last traded at C$0.28. 818,754 shares were traded 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 Trading Down 7.3 %

The firm 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 quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The company’s 50 day moving average price is C$0.18 and its two-hundred day moving average price is C$0.14.

Insider Activity

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