Oceanic Iron Ore (CVE:FEO) Shares Down 22.2% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price was down 22.2% during trading on Saturday . The company 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 Trading Down 22.2 %

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

Insiders Place Their Bets

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