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

Oceanic Iron Ore Corp. (CVE:FEO) shares dropped 22.2% on Saturday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares traded hands 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 stock’s 50 day simple moving average is C$0.18 and its two-hundred day simple 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. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.

Insiders Place Their Bets

In other Oceanic Iron Ore news, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction on Friday, November 22nd. The stock was purchased at an average price 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 stock in a transaction 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. In the last quarter, insiders have sold 494,500 shares of company stock valued at $129,248. 107.26% of the stock is currently 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.