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

Shares of Oceanic Iron Ore Corp. (CVE:FEO) traded down 22.2% on Saturday . The stock traded as low as C$0.18 and last traded at C$0.18. 110,530 shares traded hands during trading, a decline of 27% from the average session volume of 151,612 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Price 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 company’s 50 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 PE ratio of -8.75 and a beta of 0.99.

Insider Buying and Selling

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. Also, Director Christopher Ross Batalha purchased 700,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Insiders have sold 494,500 shares of company stock worth $129,248 in the last ninety days. 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.