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

Oceanic Iron Ore Corp. (CVE:FEO) rose 66.7% during mid-day trading on Thursday . The company 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 Down 7.3 %

The firm’s 50-day simple moving average is C$0.18 and its 200 day simple moving average is C$0.14. The firm has a market cap of C$28.07 million, a P/E 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.

Insider Buying and Selling at Oceanic Iron Ore

In other news, Director Gordon Keep sold 355,000 shares of the stock in a transaction dated 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 acquired 700,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average cost 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 valued at $128,700 over the last three months. 107.26% of the stock is currently owned by insiders.

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.