Oceanic Iron Ore (CVE:FEO) Stock Price Up 30.9% - Here's Why

Key Points

• Oceanic Iron Ore Corp. shares surged by 30.9% during mid-day trading on Monday, reaching C$0.72 with a trading volume significantly higher than average.
• The company has 95% insider ownership, with key insiders recently selling a total of 1,829,500 shares valued at approximately C$396,321 over the last ninety days.
• Oceanic Iron Ore focuses on acquiring and exploring iron ore properties in Quebec, Canada, holding a 100% interest in the Ungava Bay iron property.

Oceanic Iron Ore Corp. (CVE:FEO - ) shares rose 30.9% during mid-day trading on Monday . The company traded as high as C$0.72 and last traded at C$0.72. Approximately 853,467 shares were traded during trading, an increase of 556% from the average daily volume of 130,006 shares. The stock had previously closed at C$0.55.

Oceanic Iron Ore Trading Up 30.9%

The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The firm has a market cap of C$79.26 million, a price-to-earnings ratio of -36.00 and a beta of 0.99. The business has a 50 day moving average price of C$0.30 and a 200-day moving average price of C$0.23.

Insider Activity at Oceanic Iron Ore

In other Oceanic Iron Ore 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 1,829,500 shares of company stock valued at $396,321 in the last ninety days. 107.26% of the stock is 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.

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