Oceanic Iron Ore (CVE:FEO) Stock Price Up 10.3% – Time to Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price traded up 10.3% during mid-day trading on Wednesday . The stock traded as high as C$0.16 and last traded at C$0.16. 194,500 shares were traded during trading, an increase of 269% from the average session volume of 52,755 shares. The stock had previously closed at C$0.15.

Oceanic Iron Ore Trading Up 13.8 %

The business has a 50 day moving average price of C$0.18 and a 200 day moving average price of C$0.14. The company has a market capitalization of C$18.16 million, a P/E ratio of -8.25 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.

Insiders Place Their Bets

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 stock was 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 Oceanic Iron Ore 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 transaction of C$95,850.00. Over the last three months, insiders have sold 541,464 shares of company stock worth $133,734. Company 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.