Oceanic Iron Ore (CVE:FEO) Stock Price Up 10.3% – Still a Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price was up 10.3% on Wednesday . The company traded as high as C$0.16 and last traded at C$0.16. Approximately 194,500 shares were traded during mid-day trading, an increase of 269% from the average daily volume of 52,755 shares. The stock had previously closed at C$0.15.

Oceanic Iron Ore Trading Down 7.3 %

The stock has a market capitalization of C$28.07 million, a P/E ratio of -12.75 and a beta of 0.99. The stock’s fifty day moving average price is C$0.18 and its two-hundred day moving average price is C$0.14. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79.

Insiders Place Their Bets

In related news, Director Gordon Keep sold 355,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction 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 acquired at an average price of C$0.18 per share, with a total value of C$126,000.00. Insiders have sold a total of 510,000 shares of company stock valued at $128,700 in the last quarter. 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.