Oceanic Iron Ore (CVE:FEO) Shares Down 14.6% – Should You Sell?

Oceanic Iron Ore Corp. (CVE:FEO) shares fell 14.6% during mid-day trading on Thursday . The stock traded as low as C$0.18 and last traded at C$0.18. 136,850 shares traded hands during mid-day 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 Price Performance

The firm has a market cap of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99. 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 business has a 50-day moving average of C$0.19 and a two-hundred day moving average of C$0.16.

Insider Buying and Selling

In related news, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost of C$0.18 per share, with a total value of C$126,000.00. 107.26% of the stock is currently owned by corporate insiders.

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.