Oceanic Iron Ore (CVE:FEO) Stock Price Up 66.7% – Should You Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price traded up 66.7% on Thursday . The company traded as high as C$0.29 and last traded at C$0.28. 818,754 shares traded 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 Trading Up 66.7 %

The firm has a market cap of C$30.27 million, a P/E ratio of -13.75 and a beta of 0.99. The firm has a fifty day moving average of C$0.18 and a 200-day moving average of C$0.14. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03.

Insider Transactions at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. Over the last quarter, insiders sold 541,464 shares of company stock worth $133,734. 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.