Oceanic Iron Ore (CVE:FEO) Trading Down 22.2% – Should You Sell?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price fell 22.2% on Saturday . 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 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 quick ratio of 0.43 and a current ratio of 0.03. The stock has a 50-day moving average of C$0.18 and a two-hundred day moving average of C$0.14. The company has a market cap of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99.

Insider Activity

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of the stock in a transaction on 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 acquired 700,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was purchased at an average price of C$0.18 per share, for a total transaction of C$126,000.00. In the last 90 days, insiders 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

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.