Oceanic Iron Ore (CVE:FEO) Trading Up 25.5% - Here's Why

Key Points

• Oceanic Iron Ore Corp. shares surged 25.5% on Monday, rising to C$0.69, with trading volume increasing by 442% compared to the average daily volume.
• The company has a market cap of C$77.06 million and shows high insider activity, with insiders recently selling over 1.8 million shares valued at approximately C$396,321.
• Oceanic Iron Ore is focused on exploring iron ore properties in Quebec, Canada, holding a 100% interest in the Ungava Bay iron property covering nearly 36,000 hectares.

Oceanic Iron Ore Corp. (CVE:FEO - ) shares were up 25.5% on Monday . The company traded as high as C$0.72 and last traded at C$0.69. Approximately 698,054 shares traded hands during mid-day trading, an increase of 442% from the average daily volume of 128,870 shares. The stock had previously closed at C$0.55.

Oceanic Iron Ore Stock Performance

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 stock has a market cap of C$77.06 million, a PE ratio of -35.00 and a beta of 0.99. The company's 50 day simple moving average is C$0.30 and its 200 day simple moving average is C$0.23.

Insider Activity

In other Oceanic Iron Ore news, insider Frank Giustra sold 1,629,500 shares of the stock in a transaction dated Thursday, June 26th. The shares were 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 firm's stock in a transaction that occurred 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. In the last quarter, insiders sold 1,829,500 shares of company stock valued at $396,321. Company insiders own 107.26% of the company's stock.

About Oceanic Iron Ore

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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