Oceanic Iron Ore (CVE:FEO) Shares Down 14.6% – What’s Next?

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

Oceanic Iron Ore Trading Up 17.1 %

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 firm’s 50-day moving average is C$0.19 and its 200-day moving average is C$0.16. The firm has a market cap of C$22.57 million, a price-to-earnings ratio of -10.25 and a beta of 0.99.

Insider Activity

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