Oceanic Iron Ore (CVE:FEO) Trading 66.7% Higher – Should You Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price shot up 66.7% during trading on Thursday . The company 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 Stock Down 7.3 %

The firm has a market capitalization of C$28.07 million, a price-to-earnings ratio of -12.75 and a beta of 0.99. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. The firm has a 50 day moving average price of C$0.18 and a two-hundred day moving average price of C$0.14.

Insider Transactions at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha bought 700,000 shares of Oceanic Iron Ore stock in a transaction dated Friday, November 22nd. The shares were acquired at an average cost 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 on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. Insiders sold 510,000 shares of company stock valued at $128,700 over the last 90 days. 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.