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

Shares of 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 changed 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 firm has a 50 day simple moving average of C$0.18 and a 200-day simple moving average of C$0.14. 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 has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99.

Insider Buying and Selling

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of the stock in a transaction that occurred on 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 purchased 700,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average price of C$0.18 per share, with a total value of C$126,000.00. In the last 90 days, insiders have sold 494,500 shares of company stock valued at $129,248. Corporate 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.