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

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) rose 30.9% during mid-day trading on Tuesday . The company traded as high as C$0.72 and last traded at C$0.72. Approximately 853,467 shares were traded during mid-day 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 company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The company has a market cap of C$82.56 million, a price-to-earnings ratio of -37.50 and a beta of 0.99. The company's 50 day moving average price is C$0.33 and its 200 day moving average price is C$0.24.

Insider Buying and Selling

In related news, insider Frank Giustra sold 1,629,500 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of C$0.21, for a total transaction of C$342,520.90. Also, Director Gordon Keep sold 100,000 shares of the firm's stock in a transaction 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 worth $396,321 over the last three months. 107.26% of the stock is owned by company 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.