Oceanic Iron Ore Corp. (CVE:FEO – Get Free Report) dropped 14.6% during trading on Friday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares traded hands during mid-day 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 Trading 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 company has a market capitalization of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The business’s 50 day simple moving average is C$0.19 and its 200 day simple moving average is C$0.16.
Insider Activity
In other news, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were acquired at an average price of C$0.18 per share, with a total value 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.
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