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

Shares of Oceanic Iron Ore Corp. (CVE:FEO) dropped 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 were traded 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 Stock Performance

The firm’s fifty day simple moving average is C$0.18 and its 200 day simple moving average is C$0.14. The company has a market capitalization 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 current ratio of 0.03 and a quick ratio of 0.43.

Insider Activity at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Christopher Ross Batalha purchased 700,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were purchased 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 firm’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. In the last 90 days, insiders sold 494,500 shares of company stock worth $129,248. 107.26% of the stock is owned by corporate 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.