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

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 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 Stock Up 66.7 %

The company’s 50-day simple moving average is C$0.18 and its 200 day simple moving average is 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 firm 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 other Oceanic Iron Ore news, Director Christopher Ross Batalha acquired 700,000 shares of the company’s stock in a transaction that occurred on 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. Also, Director Gordon Keep sold 355,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total value of C$95,850.00. In the last 90 days, insiders have sold 541,464 shares of company stock valued at $133,734. 107.26% of the stock is currently owned by insiders.

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.