Oceanic Iron Ore (CVE:FEO) Trading Down 22.2% – Should You Sell?

Shares of Oceanic Iron Ore Corp. (CVE:FEO) traded down 22.2% during mid-day 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 Stock Performance

The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The company’s fifty day moving average price is C$0.18 and its 200 day moving average price is C$0.14. The company has a market cap of C$19.26 million, a PE ratio of -8.75 and a beta of 0.99.

Insider Buying and Selling at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha acquired 700,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was purchased 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 the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. Insiders sold 494,500 shares of company stock valued at $129,248 in the last quarter. 107.26% of the stock is currently owned by corporate 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.