Oceanic Iron Ore (CVE:FEO) Shares Down 14.6% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price dropped 14.6% on Thursday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares were traded during trading, an increase of 34% from the average daily volume of 102,229 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Price Performance

The stock’s 50 day moving average price is C$0.19 and its 200-day moving average price is C$0.16. 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 stock has a market capitalization of C$22.57 million, a PE ratio of -10.25 and a beta of 0.99.

Insider Buying and Selling at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha purchased 700,000 shares of the stock in a transaction that occurred 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. 107.26% of the stock is owned by corporate 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.