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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price fell 22.2% during trading on Saturday . The company traded as low as C$0.18 and last traded at C$0.18. 110,530 shares were traded during 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 Price Performance

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 company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The company has a fifty day simple moving average of C$0.18 and a two-hundred day simple moving average of C$0.14.

Insiders Place Their Bets

In related news, Director Christopher Ross Batalha acquired 700,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was acquired at an average price of C$0.18 per share, with a total value of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction dated 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. 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.