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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price traded down 22.2% during trading on Saturday . The stock traded as low as C$0.18 and last traded at C$0.18. 110,530 shares were traded during 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 stock has a market capitalization of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. 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’s 50 day moving average is C$0.18 and its 200 day moving average is C$0.14.

Insider Activity at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average price of C$0.18 per share, with a total value of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total value of C$95,850.00. Insiders sold a total of 494,500 shares of company stock valued at $129,248 in the last three months. 107.26% of the stock is currently owned by company 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.