Oceanic Iron Ore (CVE:FEO) Stock Price Up 30.9% - What's Next?

Key Points

• Oceanic Iron Ore Corp. saw its stock price increase by 30.9% to C$0.72, with trading volume up by 556% from its daily average.
• The company has a market capitalization of C$79.26 million and a negative price-to-earnings ratio of -36.00.
• Over the last quarter, insiders sold a total of 1,829,500 shares, representing over 107% ownership by corporate insiders.

Oceanic Iron Ore Corp. (CVE:FEO - Get Free Report)'s share price shot up 30.9% during trading on Tuesday . The company traded as high as C$0.72 and last traded at C$0.72. 853,467 shares were traded during mid-day trading, an increase of 556% from the average session volume of 130,094 shares. The stock had previously closed at C$0.55.

Oceanic Iron Ore Stock Down 6.3%

The business's 50 day moving average is C$0.34 and its 200 day moving average is C$0.24. 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 stock has a market cap of C$82.56 million, a price-to-earnings ratio of -37.50 and a beta of 0.99.

Insider Buying and Selling

In related news, insider Frank Giustra sold 1,629,500 shares of the firm's 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 value of C$342,520.90. Also, Director Gordon Keep sold 100,000 shares of the firm's 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 transaction of C$29,000.00. Insiders sold a total of 1,829,500 shares of company stock valued at $396,321 in the last ninety days. Company insiders own 107.26% 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.