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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price 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 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 Price Performance

The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The company has a 50-day moving average of C$0.18 and a 200 day moving average of C$0.14. The stock has a market capitalization of C$19.26 million, a PE ratio of -8.75 and a beta of 0.99.

Insider Transactions at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction dated Tuesday, October 29th. The shares were 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 Oceanic Iron Ore stock in a transaction dated Friday, November 22nd. The stock was bought at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Insiders sold 494,500 shares of company stock worth $129,248 in the last 90 days. 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.