Oceanic Iron Ore (CVE:FEO) Trading Down 14.6% – Here’s Why

Oceanic Iron Ore Corp. (CVE:FEO) was down 14.6% on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares were traded during trading, an increase of 34% from the average daily volume of 102,229 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Stock Up 17.1 %

The firm’s fifty day moving average price is C$0.19 and its two-hundred day moving average price is C$0.16. 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 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

In related news, Director Christopher Ross Batalha acquired 700,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of C$0.18 per share, for a total transaction of C$126,000.00. 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.