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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price 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 traded hands 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 Stock Down 22.2 %

The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The stock 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 50 day moving average price of C$0.18 and a two-hundred day moving average price of C$0.14.

Insider Activity

In related news, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total value of C$95,850.00. Also, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction that occurred on 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. Insiders have sold a total of 494,500 shares of company stock valued at $129,248 in the last 90 days. 107.26% of the stock is currently owned by 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.