Shares of Oceanic Iron Ore Corp. (CVE:FEO – Get Free Report) were down 14.6% during mid-day trading on Friday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares were traded during mid-day trading, an increase of 34% from the average daily volume of 102,229 shares. The stock had previously closed at C$0.21.
Oceanic Iron Ore Stock Down 14.6 %
The company’s fifty day simple moving average is C$0.19 and its 200 day simple moving average is C$0.16. 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 firm has a market capitalization of C$19.26 million, a PE ratio of -8.75 and a beta of 0.99.
Insider Transactions at Oceanic Iron Ore
In other news, Director Christopher Ross Batalha purchased 700,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. 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.
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