Oceanic Iron Ore (CVE:FEO) Stock Price Up 30.9% - Time to Buy?

Key Points

• Oceanic Iron Ore Corp. shares surged by 30.9%, reaching a trading high of C$0.72 on Monday, with significant trading volume increase of 556% compared to the average.
• The company has a market capitalization of C$79.26 million and exceptionally high debt-to-equity ratio of 15.79, indicating significant financial risk.
• In recent insider trading, major shareholders sold a total of 1,829,500 shares valued at nearly C$396,321 within the last ninety days.

Oceanic Iron Ore Corp. (CVE:FEO - ) shares traded up 30.9% during trading on Monday . The stock 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 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 company has a market cap of C$79.26 million, a P/E ratio of -36.00 and a beta of 0.99. The company has a fifty day moving average of C$0.31 and a 200 day moving average of C$0.23.

Insider Activity

In related news, insider Frank Giustra sold 1,629,500 shares of Oceanic Iron Ore 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. Also, Director Gordon Keep sold 100,000 shares of the business's 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. Insiders sold 1,829,500 shares of company stock worth $396,321 over the last ninety days. 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.

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