Oceanic Iron Ore (CVE:FEO) Stock Price Up 34% – Should You Buy?

Oceanic Iron Ore Corp. (CVE:FEO) shares rose 34% during mid-day trading on Saturday . The company traded as high as C$0.35 and last traded at C$0.34. Approximately 850,047 shares traded hands during trading, an increase of 686% from the average daily volume of 108,122 shares. The stock had previously closed at C$0.25.

Oceanic Iron Ore Trading Up 34.0%

The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The business has a 50-day moving average price of C$0.21 and a 200-day moving average price of C$0.19. The firm has a market capitalization of C$36.88 million, a P/E ratio of -16.75 and a beta of 0.99.

Insiders Place Their Bets

In other Oceanic Iron Ore news, insider Frank Giustra sold 1,629,500 shares of Oceanic Iron Ore stock in a transaction on Thursday, June 26th. The shares were sold at an average price of C$0.21, for a total transaction of C$342,520.90. Insiders have sold a total of 1,749,949 shares of company stock worth $368,344 in the last 90 days. 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.