Oceanic Iron Ore (CVE:FEO) Stock Passes Above 200 Day Moving Average – Here’s Why

Oceanic Iron Ore Corp. (CVE:FEO) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.14 and traded as high as C$0.15. Oceanic Iron Ore shares last traded at C$0.15, with a volume of 13,000 shares trading hands.

Oceanic Iron Ore Price Performance

The company’s 50-day simple moving average is C$0.18 and its 200 day simple moving average is C$0.14. The company has a market capitalization of C$15.96 million, a P/E ratio of -7.25 and a beta of 0.99. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79.

Insider Activity at Oceanic Iron Ore

In other news, Director Gordon Keep sold 355,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. Also, Director Christopher Ross Batalha acquired 700,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. In the last 90 days, insiders sold 541,464 shares of company stock valued at $133,734. 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.