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

Shares of Oceanic Iron Ore Corp. (CVE:FEO) fell 22.2% during mid-day trading on Friday . 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 25% from the average session volume of 146,570 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Trading Down 22.2 %

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 stock has a 50-day simple moving average of C$0.18 and a 200 day simple moving average of C$0.14. The company has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99.

Insider Activity at Oceanic Iron Ore

In related news, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. Also, Director Christopher Ross Batalha purchased 700,000 shares of the company’s stock in a transaction that occurred 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. Insiders have sold a total of 494,500 shares of company stock worth $129,248 over the last quarter. 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.