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

Oceanic Iron Ore Corp. (CVE:FEO) shares fell 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 Price Performance

The company’s fifty day moving average price is C$0.18 and its two-hundred day moving average price is C$0.14. 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 company has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99.

Insiders Place Their Bets

In other Oceanic Iron Ore news, Director Christopher Ross Batalha bought 700,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Friday, November 22nd. The stock was 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 Oceanic Iron Ore stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. In the last 90 days, insiders 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.