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

Oceanic Iron Ore Corp. (CVE:FEOGet Free Report)’s stock price dropped 22.2% during mid-day trading on Saturday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 151,612 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Stock Performance

The stock has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The company’s 50 day simple moving average is C$0.18 and its 200 day simple moving average is C$0.14.

Insider Buying and Selling at Oceanic Iron Ore

In related news, Director Gordon Keep sold 355,000 shares of the stock in a transaction that occurred 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 on Friday, November 22nd. The shares were acquired at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Over the last 90 days, insiders have sold 494,500 shares of company stock valued at $129,248. Corporate insiders own 107.26% of the company’s stock.

Oceanic Iron Ore Company Profile

(Get Free Report)

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.

Further Reading

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