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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price was down 22.2% during mid-day trading on Saturday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares traded hands during mid-day 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 Trading Down 22.2 %

The firm has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The business has a 50 day moving average of C$0.18 and a 200 day moving average of C$0.14. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79.

Insider Buying and Selling at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Christopher Ross Batalha purchased 700,000 shares of the stock in a transaction on Friday, November 22nd. The stock was bought at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. In the last ninety days, insiders have sold 494,500 shares of company stock worth $129,248. Corporate 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.