Oceanic Iron Ore (CVE:FEO) Trading 30.9% Higher - Should You Buy?

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 - )'s share price traded up 30.9% during mid-day trading on Monday . 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 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 firm has a market capitalization of C$79.26 million, a PE ratio of -36.00 and a beta of 0.99. The firm's 50 day moving average price is C$0.31 and its two-hundred day moving average price is C$0.23.

Insider Transactions at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Gordon Keep sold 100,000 shares of the firm's stock in a transaction dated 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 Oceanic Iron Ore 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. In the last ninety days, insiders sold 1,829,500 shares of company stock worth $396,321. Corporate 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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