Oceanic Iron Ore (CVE:FEO) Stock Price Up 21.4% – Still a Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price rose 21.4% during trading on Friday . The company traded as high as C$0.34 and last traded at C$0.34. Approximately 214,550 shares were traded during trading, an increase of 103% from the average daily volume of 105,528 shares. The stock had previously closed at C$0.28.

Oceanic Iron Ore Stock Down 4.4%

The business has a fifty day moving average of C$0.25 and a 200 day moving average of C$0.21. The company has a market capitalization of C$35.78 million, a PE ratio of -16.25 and a beta of 0.99. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79.

Insider Transactions at Oceanic Iron Ore

In related news, insider Frank Giustra sold 1,629,500 shares of the firm’s stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of C$0.21, for a total transaction of C$342,520.90. Also, Director Gordon Keep sold 100,000 shares of the firm’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of C$0.29, for a total value of C$29,000.00. Insiders have sold a total of 1,859,500 shares of company stock valued at $402,621 over the last 90 days. 107.26% of the stock is currently owned by company 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.