Oceanic Iron Ore (CVE:FEO) Trading Down 22.2% – Here’s Why

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 were traded during mid-day 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 Trading Down 22.2 %

The business has a fifty day moving average price of C$0.18 and a 200 day moving average price of C$0.14. The firm has a market cap of C$19.26 million, a PE ratio of -8.75 and a beta of 0.99. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79.

Insiders Place Their Bets

In other news, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total value of C$95,850.00. Over the last quarter, insiders have sold 494,500 shares of company stock valued at $129,248. 107.26% of the stock is 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.