Oceanic Iron Ore (CVE:FEO) Trading 30.9% Higher - Here's What Happened

Key Points

• Oceanic Iron Ore Corp. (CVE:FEO) saw its stock price surge by 30.9% on Tuesday, reaching C$0.72, with trading volume increasing by 556% from the average.
• The company currently has a market capitalization of C$79.26 million and operates at a debt-to-equity ratio of 15.79.
• Recent insider transactions indicate significant selling activity, with insiders selling 1,829,500 shares valued at a total of $396,321 over the last ninety days.

Shares of Oceanic Iron Ore Corp. (CVE:FEO - Get Free Report) were up 30.9% on Tuesday . The stock traded as high as C$0.72 and last traded at C$0.72. Approximately 853,467 shares traded hands during trading, an increase of 556% from the average daily volume of 130,094 shares. The stock had previously closed at C$0.55.

Oceanic Iron Ore Trading Down 6.3%

The stock has a market capitalization of C$82.56 million, a P/E ratio of -37.50 and a beta of 0.99. The company has a fifty day simple moving average of C$0.34 and a two-hundred day simple moving average of C$0.24. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79.

Insider Transactions at Oceanic Iron Ore

In other news, Director Gordon Keep sold 100,000 shares of the business's stock in a transaction dated 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 company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of C$0.21, for a total value of C$342,520.90. Over the last 90 days, insiders sold 1,829,500 shares of company stock worth $396,321. Corporate insiders own 107.26% 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.