Oceanic Iron Ore (CVE:FEO) Trading Up 30.9% - Here's What Happened

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 - ) shot 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 were traded 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 market capitalization of C$79.26 million, a PE ratio of -36.00 and a beta of 0.99. 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's 50 day moving average is C$0.30 and its 200 day moving average is C$0.23.

Insider Buying and Selling

In related news, insider Frank Giustra sold 1,629,500 shares of the company's stock in a transaction that occurred 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. Also, 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. Insiders have sold a total of 1,829,500 shares of company stock worth $396,321 over the last 90 days. 107.26% of the stock is currently owned by corporate insiders.

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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