Oceanic Iron Ore (CVE:FEO) Trading 66.7% Higher – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO) rose 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 changed 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$28.07 million, a price-to-earnings ratio of -12.75 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 stock has a 50-day moving average price of C$0.18 and a 200 day moving average price of C$0.14.

Insider Activity

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of the firm’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 value of C$95,850.00. Also, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were bought at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Insiders sold 510,000 shares of company stock worth $128,700 over the last three months. 107.26% of the stock is currently 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.