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

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

Insiders Place Their Bets

In related news, Director Gordon Keep sold 355,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. Also, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of C$0.18 per share, with a total value of C$126,000.00. Insiders sold 494,500 shares of company stock valued at $129,248 over the last ninety days. Corporate 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.