Oceanic Iron Ore (CVE:FEO) Trading 30.9% Higher - Still a Buy?

Key Points

• Oceanic Iron Ore Corp. experienced a significant stock price increase of 30.9%, reaching C$0.72, with trading volume surging by 556% compared to its average.
• The company has a market capitalization of C$79.26 million and a notably high debt-to-equity ratio of 15.79, indicating a potential risk in its financial structure.
• Insider trading activity has been notable, with corporate insiders selling a total of 1,829,500 shares valued at approximately C$396,321 in the last 90 days.

Oceanic Iron Ore Corp. (CVE:FEO - )'s stock price traded up 30.9% on Monday . The company traded as high as C$0.72 and last traded at C$0.72. 853,467 shares changed 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 Price Performance

The firm has a market cap of C$79.26 million, a price-to-earnings ratio of -36.00 and a beta of 0.99. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. The stock has a 50-day moving average of C$0.31 and a two-hundred day moving average of 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 stock was 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 firm's 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. Insiders have sold a total of 1,829,500 shares of company stock valued at $396,321 over the last 90 days. 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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