Oceanic Iron Ore (CVE:FEO) Trading 66.7% Higher – Still a Buy?

Oceanic Iron Ore Corp. (CVE:FEO) traded up 66.7% during trading on Thursday . The stock traded as high as C$0.29 and last traded at C$0.28. 818,754 shares changed 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 Down 7.3 %

The stock has a market cap of C$28.07 million, a price-to-earnings ratio of -12.75 and a beta of 0.99. The business’s 50 day moving average is C$0.18 and its 200 day moving average is C$0.14. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.

Insiders Place Their Bets

In other news, Director Gordon Keep sold 355,000 shares of the company’s 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 the firm’s stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of C$0.18 per share, with a total value of C$126,000.00. Over the last quarter, insiders have sold 510,000 shares of company stock valued at $128,700. 107.26% of the stock is owned by corporate insiders.

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.