Oceanic Iron Ore (CVE:FEO) Trading Up 30.9% - Time to Buy?

Key Points

• Oceanic Iron Ore Corp. shares surged 30.9% to C$0.72 on Monday, with trading volume increasing by 556% from the daily average.
• The company has a market capitalization of C$79.26 million and significant insider ownership, with 107.26% of shares held by insiders.
• Insider selling recently included the sale of 1,829,500 shares in the past ninety days, totaling approximately C$396,321.

Oceanic Iron Ore Corp. (CVE:FEO - )'s share price was 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. Approximately 853,467 shares traded hands during mid-day 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 Price Performance

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 company has a market capitalization of C$79.26 million, a P/E ratio of -36.00 and a beta of 0.99. The firm has a fifty day moving average of C$0.31 and a 200 day moving average of C$0.23.

Insider Activity 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 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 Oceanic Iron Ore stock in a transaction 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. Insiders sold a total of 1,829,500 shares of company stock valued at $396,321 over the last ninety days. 107.26% of the stock is currently owned by 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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