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

Oceanic Iron Ore Corp. (CVE:FEO) shares dropped 14.6% during trading on Thursday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares traded hands during trading, an increase of 34% from the average daily volume of 102,229 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Price 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 firm has a fifty day moving average of C$0.19 and a two-hundred day moving average of C$0.16. The stock has a market capitalization of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99.

Insiders Place Their Bets

In other Oceanic Iron Ore news, Director Christopher Ross Batalha purchased 700,000 shares of Oceanic Iron Ore stock in a transaction on Friday, November 22nd. The stock was bought at an average cost of C$0.18 per share, with a total value of C$126,000.00. 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.