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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price traded down 22.2% during mid-day trading on Saturday . The company traded as low as C$0.18 and last traded at C$0.18. 110,530 shares traded hands during trading, a decline of 27% from the average session volume of 151,612 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Price Performance

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 business’s 50 day simple moving average is C$0.18 and its 200-day simple moving average is C$0.14. The stock has a market capitalization of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99.

Insider Buying and Selling at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were bought at an average cost 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 business’s 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. Insiders sold 494,500 shares of company stock valued at $129,248 in the last ninety days. Company 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.