Oceanic Iron Ore (CVE:FEO) Trading Down 15% – Here’s Why

Oceanic Iron Ore Corp. (CVE:FEO) shares fell 15% on Saturday . The company traded as low as C$0.24 and last traded at C$0.26. 366,000 shares traded hands during mid-day trading, an increase of 238% from the average session volume of 108,303 shares. The stock had previously closed at C$0.30.

Oceanic Iron Ore Stock Down 15.0%

The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The firm has a market capitalization of C$28.07 million, a PE ratio of -12.75 and a beta of 0.99. The business’s 50-day moving average price is C$0.22 and its 200-day moving average price is C$0.20.

Insider Buying and Selling

In other Oceanic Iron Ore news, insider Frank Giustra sold 1,629,500 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of C$0.21, for a total value of C$342,520.90. Also, Director Gordon Keep sold 100,000 shares of Oceanic Iron Ore stock in a transaction on Monday, July 7th. The shares were sold at an average price of C$0.29, for a total transaction of C$29,000.00. Insiders have sold 1,849,949 shares of company stock worth $397,344 over the last ninety days. 107.26% of the stock is currently owned by insiders.

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.