Oceanic Iron Ore (CVE:FEO) Shares Up 34% – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO) shares shot up 34% during trading on Saturday . The company traded as high as C$0.35 and last traded at C$0.34. 850,047 shares traded 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 50-day simple moving average of C$0.21 and a 200 day simple moving average of C$0.19. 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 company has a market capitalization of C$36.88 million, a PE ratio of -16.75 and a beta of 0.99.

Insider Buying and Selling

In other Oceanic Iron Ore news, insider Frank Giustra sold 1,629,500 shares of the business’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of C$0.21, for a total transaction of C$342,520.90. Insiders sold 1,749,949 shares of company stock worth $368,344 in the last quarter. 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.