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

Shares of Oceanic Iron Ore Corp. (CVE:FEO) dropped 22.2% during mid-day trading on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares changed hands during trading, a decline of 25% from the average daily volume of 146,570 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Trading Down 22.2 %

The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The company has a 50 day moving average of C$0.18 and a two-hundred day moving average of C$0.14. The stock has a market cap of C$19.26 million, a PE ratio of -8.75 and a beta of 0.99.

Insider Activity

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of the company’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. Also, Director Christopher Ross Batalha acquired 700,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Insiders have sold 494,500 shares of company stock worth $129,248 in the last quarter. Corporate insiders own 107.26% of the company’s stock.

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.