Shares of Oceanic Iron Ore Corp. (CVE:FEO – Get Free Report) traded down 14.6% 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 Stock Up 17.1 %
The business has a fifty day simple moving average of C$0.19 and a two-hundred day simple moving average of C$0.16. 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 company has a market cap of C$22.57 million, a PE ratio of -10.25 and a beta of 0.99.
Insiders Place Their Bets
In related news, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of C$0.18 per share, with a total value 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.
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