Oceanic Iron Ore (CVE:FEO) Shares Up 66.7% – Still a Buy?

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

The stock has a market capitalization of C$30.27 million, a PE ratio of -13.75 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. The business has a fifty day moving average price of C$0.18 and a 200-day moving average price of C$0.14.

Insider Buying and Selling at Oceanic Iron Ore

In other news, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. Also, Director Christopher Ross Batalha acquired 700,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Insiders have sold 510,000 shares of company stock worth $128,700 over the last ninety days. Insiders own 107.26% of the company’s stock.

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.