Oceanic Iron Ore (CVE:FEO) Trading Up 34% – Here’s Why

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price was up 34% during 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 mid-day 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 Stock Up 34.0%

The company has a market cap of C$36.88 million, a P/E ratio of -16.75 and a beta of 0.99. 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’s 50 day moving average is C$0.21 and its 200 day moving average is C$0.19.

Insider Buying and Selling

In related news, insider Frank Giustra sold 1,629,500 shares of the business’s stock in a transaction that occurred on Thursday, June 26th. The shares were 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 ninety days. Insiders own 107.26% of the company’s stock.

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.