Oceanic Iron Ore (CVE:FEO) Shares Up 66.7% – Time to Buy?

Shares of Oceanic Iron Ore Corp. (CVE:FEO) rose 66.7% during mid-day trading on Friday . The company traded as high as C$0.29 and last traded at C$0.28. Approximately 818,754 shares changed hands during mid-day 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 Up 66.7 %

The company has a 50 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 current ratio of 0.03 and a quick ratio of 0.43. The company has a market cap of C$30.27 million, a P/E ratio of -13.75 and a beta of 0.99.

Insider Activity

In related news, Director Christopher Ross Batalha acquired 700,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was bought 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 the company’s 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 510,000 shares of company stock worth $128,700. 107.26% of the stock is currently owned by 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.