Oceanic Iron Ore (CVE:FEO) Sets New 52-Week High - What's Next?

Key Points

• Oceanic Iron Ore Corp. (CVE:FEO) reached a new 52-week high of C$0.94 during trading, up from a previous close of C$0.89, with a trading volume of 302,246 shares.
• The company has a high debt-to-equity ratio of 15.79 and a market capitalization of C$110.87 million, while insiders have sold approximately 1.78 million shares in recent transactions.
• Oceanic Iron Ore focuses on acquiring and exploring iron ore properties in Quebec and holds a 100% interest in several project areas within the Ungava Bay iron property.

Oceanic Iron Ore Corp. (CVE:FEO - )'s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$0.94 and last traded at C$0.94, with a volume of 302246 shares. The stock had previously closed at C$0.89.

Oceanic Iron Ore Stock Up 5.6%

The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The firm has a 50 day simple moving average of C$0.50 and a 200-day simple moving average of C$0.30. The stock has a market capitalization of C$110.87 million, a price-to-earnings ratio of -7.23 and a beta of 2.49.

Insider Buying and Selling at Oceanic Iron Ore

In other news, insider Frank Giustra sold 1,629,500 shares of the firm's stock in a transaction 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 the firm's stock in a transaction 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. Insiders have sold 1,779,500 shares of company stock valued at $385,221 over the last quarter. Corporate 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.

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