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

Oceanic Iron Ore Corp. (CVE:FEO) dropped 22.2% during trading on Saturday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares traded hands during trading, a decline of 27% from the average daily volume of 151,612 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Stock 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’s fifty day moving average price is C$0.18 and its two-hundred day moving average price is C$0.14. The stock has a market capitalization 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 Gordon Keep sold 355,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total value of C$95,850.00. Also, Director Christopher Ross Batalha acquired 700,000 shares of the firm’s stock in a transaction 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. Over the last quarter, insiders sold 494,500 shares of company stock valued at $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.