Oceanic Iron Ore (CVE:FEO) Shares Down 14.6% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price fell 14.6% during trading on Friday . The company traded as low as C$0.18 and last traded at C$0.18. 136,850 shares traded hands during mid-day trading, an increase of 34% from the average session volume of 102,229 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Stock Performance

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 stock has a market cap of C$22.57 million, a price-to-earnings ratio of -10.25 and a beta of 0.99. The stock’s 50-day moving average is C$0.19 and its 200 day moving average is C$0.16.

Insider Activity at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha acquired 700,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of C$0.18 per share, for a total transaction of C$126,000.00. 107.26% of the stock is owned by 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.