Oceanic Iron Ore (CVE:FEO) Shares Down 22.2% – Should You Sell?

Oceanic Iron Ore Corp. (CVE:FEO) shares traded down 22.2% during trading on Saturday . The company traded as low as C$0.18 and last traded at C$0.18. 110,530 shares changed 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 Stock Down 22.2 %

The company has a market capitalization of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The business has a fifty day simple moving average of C$0.18 and a two-hundred day simple moving average of C$0.14. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79.

Insider Buying and Selling at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha acquired 700,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost of C$0.18 per share, with a total value of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction that occurred 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. Insiders have sold 494,500 shares of company stock worth $129,248 over the last three months. Company insiders own 107.26% of the company’s stock.

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.