Oceanic Iron Ore (CVE:FEO) Shares Up 66.7% – Still a Buy?

Shares of Oceanic Iron Ore Corp. (CVE:FEO) were up 66.7% during mid-day trading on Thursday . The stock traded as high as C$0.29 and last traded at C$0.28. Approximately 818,754 shares traded 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 Stock Performance

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 company has a market capitalization of C$30.27 million, a PE ratio of -13.75 and a beta of 0.99. The company has a 50 day moving average price of C$0.18 and a 200 day moving average price of C$0.14.

Insider Transactions at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Christopher Ross Batalha acquired 700,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was 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 stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. In the last 90 days, insiders sold 541,464 shares of company stock valued at $133,734. Insiders own 107.26% of the company’s stock.

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.