Oceanic Iron Ore (CVE:FEO) Shares Down 22.2% – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO) shares traded down 22.2% 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 quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The stock’s 50 day moving average price is C$0.18 and its 200-day moving average price is C$0.14. The stock has a market capitalization of C$19.26 million, a PE ratio of -8.75 and a beta of 0.99.

Insider Activity

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were acquired at an average price of C$0.18 per share, for a total transaction 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. In the last ninety days, insiders have sold 494,500 shares of company stock worth $129,248. Corporate insiders own 107.26% of the company’s stock.

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.