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

Shares of Oceanic Iron Ore Corp. (CVE:FEO) were up 66.7% on Friday . The company traded as high as C$0.29 and last traded at C$0.28. Approximately 818,754 shares traded 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 debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. 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 50 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 related news, Director Gordon Keep sold 355,000 shares of the 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 company’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. In the last ninety days, insiders have sold 510,000 shares of company stock valued at $128,700. 107.26% of the stock is currently owned by company 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.