Oceanic Iron Ore (CVE:FEO) Stock Price Down 22.2% – Here’s Why

Oceanic Iron Ore Corp. (CVE:FEO) traded down 22.2% on Saturday . The stock traded as low as C$0.18 and last traded at C$0.18. 110,530 shares were traded during mid-day trading, a decline of 27% from the average session volume of 151,612 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Trading Down 22.2 %

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 firm has a market capitalization of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The business has a 50-day moving average of C$0.18 and a two-hundred day moving average of C$0.14.

Insider Transactions at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Christopher Ross Batalha acquired 700,000 shares of Oceanic Iron Ore stock in a transaction dated Friday, November 22nd. The stock was bought at an average cost of C$0.18 per share, with a total value of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. In the last quarter, insiders have sold 494,500 shares of company stock valued at $129,248. 107.26% of the stock is 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.