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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price traded down 14.6% during trading on Thursday . The company traded as low as C$0.18 and last traded at C$0.18. 136,850 shares were traded 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 Up 17.1 %

The firm’s 50 day moving average price is C$0.19 and its 200 day moving average price is 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. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.

Insider Transactions at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha purchased 700,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of C$0.18 per share, for a total transaction 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.