Oceanic Iron Ore (CVE:FEO) Shares Down 14.6% – Here’s Why

Shares of Oceanic Iron Ore Corp. (CVE:FEO) were down 14.6% on Thursday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares changed hands during mid-day trading, an increase of 34% from the average daily volume of 102,229 shares. The stock had previously closed at C$0.21.

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 has a market cap of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99. The company has a 50 day moving average price of C$0.19 and a 200-day moving average price of C$0.16.

Insider Buying and Selling at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Company 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.