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

Oceanic Iron Ore Corp. (CVE:FEO) traded up 34% during mid-day trading 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 Trading Up 34.0%

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 business has a fifty day moving average of C$0.21 and a 200-day moving average of C$0.19. The stock has a market capitalization of C$36.88 million, a price-to-earnings ratio of -16.75 and a beta of 0.99.

Insider Buying and Selling

In related news, insider Frank Giustra sold 1,629,500 shares of the firm’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 1,749,949 shares of company stock worth $368,344 over the last ninety days. 107.26% of the stock is currently owned by corporate 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.