Oceanic Iron Ore (CVE:FEO) Reaches New 12-Month High - Still a Buy?

Key Points

• Oceanic Iron Ore Corp. hit a new 52-week high trading at C$0.77, with a last traded price of C$0.73 and a total volume of 74,952 shares.
• The company's financials show a high debt-to-equity ratio of 15.79 and a market capitalization of C$81.09 million, with a P/E ratio of -5.38.
• Insider activity includes the sale of over 1.8 million shares by company insiders in the past three months, indicating potential profit-taking amidst rising stock prices.

Oceanic Iron Ore Corp. (CVE:FEO - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$0.77 and last traded at C$0.73, with a volume of 74952 shares traded. The stock had previously closed at C$0.72.

Oceanic Iron Ore Stock Up 5.1%

The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. The stock has a 50 day simple moving average of C$0.41 and a 200 day simple moving average of C$0.26. The firm has a market capitalization of C$97.89 million, a PE ratio of -6.38 and a beta of 2.49.

Insider Buying and Selling

In other Oceanic Iron Ore news, insider Frank Giustra sold 1,629,500 shares of Oceanic Iron Ore stock in a transaction that occurred 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. Also, Director Gordon Keep sold 100,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of C$0.29, for a total value of C$29,000.00. Insiders sold a total of 1,779,500 shares of company stock worth $385,221 over the last ninety days. Insiders own 9.00% 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.