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

Key Points

• Oceanic Iron Ore Corp. shares hit a new 52-week high of C$0.92, ending the day at C$0.86 with a trading volume of 455,501 shares.
• Insider trading activity included significant share sales by Frank Giustra and Gordon Keep, with a total of 1,779,500 shares sold in recent months.
• The company's current financials show a market cap of C$96.71 million and a high debt-to-equity ratio of 15.79.

Shares of Oceanic Iron Ore Corp. (CVE:FEO - ) reached a new 52-week high on Thursday . The company traded as high as C$0.92 and last traded at C$0.86, with a volume of 455501 shares. The stock had previously closed at C$0.84.

Oceanic Iron Ore Stock Down 2.4%

The company has a market cap of C$96.71 million, a price-to-earnings ratio of -6.31 and a beta of 2.49. The firm's 50 day simple moving average is C$0.44 and its 200-day simple moving average is C$0.28. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.

Insider Buying and Selling

In other news, insider Frank Giustra sold 1,629,500 shares of the 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 transaction 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. Over the last three months, insiders have sold 1,779,500 shares of company stock valued at $385,221. Corporate insiders own 9.00% of the company's stock.

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.

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