Oceanic Iron Ore (CVE:FEO) Shares Down 14.6% – Here’s Why

Oceanic Iron Ore Corp. (CVE:FEO)’s share price fell 14.6% during trading on Thursday . The company traded as low as C$0.18 and last traded at C$0.18. 136,850 shares were traded during mid-day trading, an increase of 34% from the average session volume of 102,229 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Price 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 firm has a market cap of C$19.26 million, a PE ratio of -8.75 and a beta of 0.99. The business has a fifty day moving average of C$0.19 and a 200-day moving average of C$0.16.

Insider Buying and Selling

In other Oceanic Iron Ore 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 bought at an average price of C$0.18 per share, with a total value of C$126,000.00. 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.