Oceanic Iron Ore (CVE:FEO) Shares Up 66.7% – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price was up 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 were traded 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 Price Performance

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

Insiders Place Their Bets

In other news, Director Christopher Ross Batalha purchased 700,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was acquired 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 the business’s 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 ninety days, insiders have sold 510,000 shares of company stock worth $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.