Oceanic Iron Ore (CVE:FEO) Shares Down 14.6% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO)’s share price dropped 14.6% during trading on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. 136,850 shares traded hands during trading, an increase of 34% from the average daily volume of 102,229 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Stock Down 14.6 %

The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The stock has a market capitalization of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The firm’s fifty day moving average is C$0.19 and its 200-day moving average is C$0.16.

Insider Transactions at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha purchased 700,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was acquired at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. 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.