Oceanic Iron Ore (CVE:FEO) Stock Price Up 34% – Here’s What Happened

Shares of Oceanic Iron Ore Corp. (CVE:FEO) traded up 34% during trading on Friday . The company traded as high as C$0.35 and last traded at C$0.34. 850,047 shares changed hands during trading, an increase of 686% from the average session volume of 108,122 shares. The stock had previously closed at C$0.25.

Oceanic Iron Ore Stock Performance

The stock has a market cap of C$36.88 million, a price-to-earnings ratio of -16.75 and a beta of 0.99. The firm’s 50-day moving average is C$0.21 and its two-hundred day moving average is C$0.19. 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 Buying and Selling

In other news, insider Frank Giustra sold 1,629,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of C$0.21, for a total value of C$342,520.90. In the last ninety days, insiders sold 1,749,949 shares of company stock worth $368,344. 107.26% of the stock is currently owned by 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.