Oceanic Iron Ore Corp. (CVE:FEO – Get Free Report) shares fell 14.6% during mid-day trading on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. 136,850 shares changed hands during 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 Trading Down 14.6 %
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 business’s fifty day simple moving average is C$0.19 and its 200 day simple moving average is C$0.16. The stock has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99.
Insider Activity
In related news, Director Christopher Ross Batalha purchased 700,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average price of C$0.18 per share, with a total value of C$126,000.00. Company 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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