Oceanic Iron Ore (CVE:FEO) Reaches New 1-Year High - Here's What Happened

Key Points

• Oceanic Iron Ore Corp.'s stock reached a new 52-week high, trading at C$1.15 during mid-day on Friday, up from a previous close of C$0.93.
• The company has a market capitalization of C$154.38 million and notable financial measures, including a PE ratio of -8.00 and a debt-to-equity ratio of 15.79.
• A director of the company, Gordon Keep, sold 100,000 shares at an average price of C$0.29, indicating some insider trading activity.

Oceanic Iron Ore Corp. (CVE:FEO - )'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$1.15 and last traded at C$1.09, with a volume of 536365 shares changing hands. The stock had previously closed at C$0.93.

Oceanic Iron Ore Price Performance

The stock has a fifty day moving average price of C$0.66 and a 200-day moving average price of C$0.36. The firm has a market capitalization of C$154.38 million, a PE ratio of -8.00 and a beta of 2.49. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03.

Insiders Place Their Bets

In related news, Director Gordon Keep sold 100,000 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of C$0.29, for a total transaction of C$29,000.00. 9.00% of the stock is currently owned by company insiders.

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.

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