Black Iron (TSE:BKI) Shares Down 9.1% – Here’s Why

Black Iron Inc. (TSE:BKI)’s share price traded down 9.1% on Tuesday . The company traded as low as C$0.15 and last traded at C$0.15. 194,591 shares were traded during mid-day trading, a decline of 69% from the average session volume of 621,593 shares. The stock had previously closed at C$0.17.

Black Iron Stock Performance

The stock has a market cap of C$48.66 million, a price-to-earnings ratio of -16.00 and a beta of 1.52. The company has a current ratio of 0.40, a quick ratio of 2.76 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of C$0.12 and a 200-day simple moving average of C$0.08.

Insider Buying and Selling

In other news, insider RAB Capital Holdings Limited sold 250,500 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$0.19, for a total value of C$46,342.50. Insiders sold a total of 2,271,000 shares of company stock worth $421,155 over the last three months. 2.14% of the stock is currently owned by company insiders.

About Black Iron

Black Iron Inc is a Canadian iron ore exploration and development company. The principal activity of the company is the exploration and development of ferrous metals in Ukraine namely the Shymanivske iron ore project located in Kryvyi Rih, Ukraine. The company operates through the development of its Ukrainian mining and exploration permits segment.