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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price shot up 34% on Saturday . The company traded as high as C$0.35 and last traded at C$0.34. 850,047 shares were traded 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 Up 34.0%

The company’s 50 day simple moving average is C$0.21 and its 200-day simple moving average is C$0.19. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The firm 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 at Oceanic Iron Ore

In related news, insider Frank Giustra sold 1,629,500 shares of the stock in a transaction 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. Insiders have sold a total of 1,749,949 shares of company stock valued at $368,344 over the last quarter. Corporate 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.