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

Key Points

• Shares of Oceanic Iron Ore Corp. surged by 30.9% to C$0.72, with trading volume increasing by 556% compared to its average session.
• The company has a debt-to-equity ratio of 15.79 and a market capitalization of C$79.26 million.
• Insiders have sold a total of 1,829,500 shares valued at approximately C$396,321 over the last 90 days, indicating significant insider activity.

Oceanic Iron Ore Corp. (CVE:FEO - Get Free Report) shares traded up 30.9% on Tuesday . The stock traded as high as C$0.72 and last traded at C$0.72. 853,467 shares traded hands 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 4.0%

The firm has a 50-day moving average price of C$0.35 and a two-hundred day moving average price of C$0.25. 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 capitalization of C$83.41 million, a P/E ratio of -5.54 and a beta of 1.42.

Insiders Place Their Bets

In related news, insider Frank Giustra sold 1,629,500 shares of the company'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 company'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 sold 1,829,500 shares of company stock valued at $396,321 over the last 90 days. 9.00% of the stock is currently 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.