Oceanic Iron Ore (CVE:FEO) Trading Up 39.4% – Here’s What Happened

Shares of Oceanic Iron Ore Corp. (CVE:FEO) were up 39.4% during trading on Thursday . The stock traded as high as C$0.23 and last traded at C$0.23. Approximately 423,936 shares were traded during trading, an increase of 468% from the average daily volume of 74,631 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Stock Performance

The company has a market cap of C$28.07 million, a P/E ratio of -12.75 and a beta of 0.99. The firm’s fifty day moving average price is C$0.18 and its 200-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.

Insider Activity

In other news, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction on Friday, November 22nd. The stock was purchased at an average price of C$0.18 per share, with a total value of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. Insiders have sold 510,000 shares of company stock valued at $128,700 over the last three months. 107.26% of the stock is 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.