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

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

Oceanic Iron Ore Price Performance

The firm has a market cap of C$19.26 million, a P/E ratio of -8.75 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. The business’s 50 day moving average is C$0.18 and its two-hundred day moving average is C$0.14.

Insider Transactions at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired 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 the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. In the last ninety days, insiders sold 494,500 shares of company stock valued at $129,248. Corporate insiders own 107.26% of the company’s stock.

Oceanic Iron Ore Company Profile

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.