Oceanic Iron Ore (CVE:FEO) Stock Price Down 4.8% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO) traded down 4.8% on Wednesday . The stock traded as low as C$0.78 and last traded at C$0.80. 107,267 shares were traded during trading, a decline of 9% from the average daily volume of 117,554 shares. The stock had previously closed at C$0.84.

Analyst Ratings Changes

Separately, National Bank Financial set a C$1.70 target price on Oceanic Iron Ore and gave the company an “outperform” rating in a report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$1.85.

Oceanic Iron Ore Trading Down 8.3%

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’s 50 day moving average is C$0.69 and its 200 day moving average is C$0.79. The stock has a market capitalization of C$200.68 million, a price-to-earnings ratio of -1.05 and a beta of 2.84.

Insider Buying and Selling at Oceanic Iron Ore

In other news, Director Jeremy Langford bought 128,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average cost of C$0.78 per share, with a total value of C$100,230.00. Following the completion of the transaction, the director directly owned 128,500 shares in the company, valued at C$100,230. This represents a ∞ increase in their ownership of the stock. Insiders own 9.00% 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. The company was formerly known as Pacific Harbour Capital Ltd. and changed its name to Oceanic Iron Ore Corp. in November 2010. Oceanic Iron Ore Corp.