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

Oceanic Iron Ore Corp. (CVE:FEO) was down 22.2% during trading on Friday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 146,570 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Stock Performance

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 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 stock’s 50 day moving average is C$0.18 and its 200 day moving average is C$0.14.

Insider Activity

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was bought at an average cost 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 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 have sold 494,500 shares of company stock worth $129,248 over the last ninety days. 107.26% of the stock is currently owned by 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.