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

Key Points

• Oceanic Iron Ore Corp.'s share price surged 30.9% during mid-day trading, reaching C$0.72 per share, significantly up from its previous close of C$0.55.
• The company has a debt-to-equity ratio of 15.79, indicating high leverage, and its market capitalization stands at C$79.26 million.
• Recent insider transactions included the sale of 1,829,500 shares by board members, totaling approximately $396,321, amidst a backdrop of significant stock movement.

Oceanic Iron Ore Corp. (CVE:FEO - Get Free Report) rose 30.9% on Monday . The stock traded as high as C$0.72 and last traded at C$0.72. Approximately 853,467 shares changed 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 Stock Down 4.0%

The firm's fifty day moving average price is C$0.35 and its two-hundred day moving average price is C$0.24. The stock has a market cap of C$83.41 million, a price-to-earnings ratio of -5.54 and a beta of 1.42. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.

Insider Activity

In other Oceanic Iron Ore news, Director Gordon Keep sold 100,000 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of C$0.29, for a total transaction of C$29,000.00. Also, insider Frank Giustra sold 1,629,500 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of C$0.21, for a total transaction of C$342,520.90. Insiders have sold 1,829,500 shares of company stock worth $396,321 in the last quarter. Company insiders own 9.00% 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.