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

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.

Oceanic Iron Ore Corp. (CVE:FEO - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$0.92 and last traded at C$0.86, with a volume of 455501 shares changing hands. The stock had previously closed at C$0.84.

Oceanic Iron Ore Trading Down 5.3%

The stock has a market capitalization of C$104.97 million, a price-to-earnings ratio of -6.85 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. The firm has a fifty day moving average of C$0.49 and a 200-day moving average of C$0.30.

Insider Buying and Selling at Oceanic Iron Ore

In related news, Director Gordon Keep sold 100,000 shares of the stock in a transaction 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. Also, insider Frank Giustra sold 1,629,500 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of C$0.21, for a total value of C$342,520.90. Over the last quarter, insiders sold 1,779,500 shares of company stock valued at $385,221. 9.00% of the stock is owned by 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.