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

Key Points

• Oceanic Iron Ore Corp. (CVE:FEO) reached a new 52-week high of C$0.52 during trading, closing at C$0.49 with a trading volume of 353,765 shares.
• The company has a market capitalization of C$55.04 million and its financial ratios indicate a current ratio of 0.03 and a quick ratio of 0.43.
• Insider transactions included the sale of 1,859,500 shares by insiders over the last quarter, with notable sales by Frank Giustra and Gordon Keep.

Oceanic Iron Ore Corp. (CVE:FEO - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as C$0.52 and last traded at C$0.49, with a volume of 353765 shares trading hands. The stock had previously closed at C$0.47.

Oceanic Iron Ore Stock Up 17.0%

The firm has a market capitalization of C$60.54 million, a price-to-earnings ratio of -27.50 and a beta of 0.99. The business's 50-day moving average is C$0.30 and its two-hundred day moving average is C$0.23. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03.

Insider Buying and Selling

In related news, Director Gordon Keep sold 100,000 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of C$0.29, for a total value of C$29,000.00. Also, insider Frank Giustra sold 1,629,500 shares of the 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 transaction of C$342,520.90. Insiders sold a total of 1,829,500 shares of company stock worth $396,321 over the last quarter. 107.26% of the stock is currently owned by corporate 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.