Oceanic Iron Ore Corp. (CVE:FEO – Get Free Report)’s stock price dropped 22.2% 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 mid-day 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 company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. The company’s 50 day moving average is C$0.18 and its 200-day moving average is C$0.14. The company has a market capitalization of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99.
Insider Activity
In other Oceanic Iron Ore news, Director Christopher Ross Batalha acquired 700,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were acquired 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 business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total value of C$95,850.00. Over the last ninety days, insiders sold 494,500 shares of company stock worth $129,248. Insiders own 107.26% of the company’s stock.
About Oceanic Iron Ore
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.
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