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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price fell 22.2% during mid-day trading on Saturday . The company 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 Trading Down 22.2 %

The stock has a 50 day simple moving average of C$0.18 and a 200-day simple moving average of C$0.14. The firm has a market capitalization of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79.

Insider Activity at Oceanic Iron Ore

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

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.