Oceanic Iron Ore (CVE:FEO) Stock Price Up 30.9% - Here's Why

Key Points

• Oceanic Iron Ore Corp. (CVE:FEO) experienced a significant stock price increase of 30.9%, reaching C$0.72 during midday trading after previously closing at C$0.55.
• Insider Frank Giustra sold 1,629,500 shares at C$0.21, totaling around C$342,520, while insider Gordon Keep sold 100,000 shares at C$0.29.
• The company's market capitalization stands at C$79.26 million, with key financial metrics including a PE ratio of -36.00 and a debt-to-equity ratio of 15.79.

Oceanic Iron Ore Corp. (CVE:FEO - Get Free Report)'s share price rose 30.9% during trading on Monday . The company 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 Performance

The company has a market cap of C$83.41 million, a P/E ratio of -5.54 and a beta of 1.42. 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 business has a fifty day simple moving average of C$0.35 and a two-hundred day simple moving average of C$0.24.

Insider Activity at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Gordon Keep sold 100,000 shares of the company's stock in a transaction that occurred 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 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. Insiders sold a total of 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.