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

Oceanic Iron Ore Corp. (CVE:FEO) fell 22.2% on Saturday . The company traded as low as C$0.18 and last traded at C$0.18. 110,530 shares traded hands during mid-day 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 Price Performance

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. The business’s fifty day moving average is C$0.18 and its 200 day moving average is C$0.14.

Insider Activity at Oceanic Iron Ore

In related news, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction on 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 purchased 700,000 shares of the company’s stock in a transaction 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. Over the last ninety days, insiders have sold 494,500 shares of company stock valued at $129,248. Company 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.