Oceanic Iron Ore (CVE:FEO) Trading Down 22.2% – Time to Sell?

by · The Markets Daily

Oceanic Iron Ore Corp. (CVE:FEO – Get Free Report)’s stock price fell 22.2% during mid-day trading on Friday . The company traded as low as C$0.18 and last traded at C$0.18. 110,530 shares changed hands during trading, a decline of 25% from the average session volume of 146,570 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Stock Performance

The firm has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The stock has a 50-day moving average of C$0.18 and a 200-day moving average of C$0.14. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03.

Insider Transactions at Oceanic Iron Ore

In other news, Director Gordon Keep sold 355,000 shares of the 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. Also, Director Christopher Ross Batalha acquired 700,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of C$0.18 per share, with a total value of C$126,000.00. Insiders sold 494,500 shares of company stock valued at $129,248 in the last ninety days. 107.26% of the stock is currently owned by corporate insiders.

About Oceanic Iron Ore

(Get Free Report)

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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