Oceanic Iron Ore (CVE:FEO) Trading 66.7% Higher – Here’s What Happened

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

The stock has a market capitalization of C$30.27 million, a P/E ratio of -13.75 and a beta of 0.99. The stock’s fifty day moving average price is C$0.18 and its two-hundred day moving average price is C$0.14. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79.

Insider Buying and Selling

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 value of C$95,850.00. Also, Director Christopher Ross Batalha purchased 700,000 shares of the stock in a transaction that occurred on 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. Insiders have sold a total of 510,000 shares of company stock worth $128,700 in the last 90 days. 107.26% of the stock is 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.