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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price traded down 22.2% on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. 110,530 shares traded hands during 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 Stock Performance

The firm’s fifty day moving average is C$0.18 and its 200 day moving average is C$0.14. 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 company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.

Insider Activity

In other news, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was purchased at an average price of C$0.18 per share, with a total value of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total value of C$95,850.00. Insiders sold a total of 494,500 shares of company stock worth $129,248 in the last three months. 107.26% of the stock is 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.