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

Oceanic Iron Ore Corp. (CVE:FEO) was down 22.2% during trading on Saturday . 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 27% from the average daily volume of 151,612 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Stock Down 22.2 %

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 company has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The firm’s fifty day simple moving average is C$0.18 and its 200 day simple moving average is C$0.14.

Insider Transactions at Oceanic Iron Ore

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