Oceanic Iron Ore (CVE:FEO) Trading Down 22.2% – Here’s What Happened

Shares of Oceanic Iron Ore Corp. (CVE:FEO) were down 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 Down 22.2 %

The stock has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The business’s fifty day moving average is C$0.18 and its two-hundred day moving average is C$0.14.

Insiders Place Their Bets

In related news, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total value of C$95,850.00. Also, 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. Insiders sold a total of 494,500 shares of company stock worth $129,248 over the last 90 days. 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.