Oceanic Iron Ore Corp. (CVE:FEO – Get Free Report)’s share price was down 27.7% on Thursday following insider selling activity. The stock traded as low as C$0.22 and last traded at C$0.24. Approximately 566,004 shares changed hands during trading, an increase of 273% from the average daily volume of 151,618 shares. The stock had previously closed at C$0.33.
Specifically, Director Gordon Keep sold 355,000 shares of the company’s stock in a transaction 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.
Oceanic Iron Ore Price Performance
The company has a market cap of C$25.87 million, a P/E ratio of -16.25 and a beta of 0.99. The company has a fifty day simple moving average of C$0.14 and a 200-day simple moving average of C$0.10. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.
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.
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