Oceanic Iron Ore (CVE:FEO) Trading Down 22.2% – Time to Sell?

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

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 cap of C$19.26 million, a PE ratio of -8.75 and a beta of 0.99. The firm’s 50 day moving average is C$0.18 and its 200 day moving average is C$0.14.

Insider Activity

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 shares were purchased at an average price 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 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 value of C$95,850.00. Insiders sold 494,500 shares of company stock worth $129,248 in the last three months. 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.