New Zealand Energy (CVE:NZ) Trading 15.9% Higher – Should You Buy?
by Sarita Garza · The Markets DailyNew Zealand Energy Corp. (CVE:NZ – Get Free Report) was up 15.9% on Thursday . The company traded as high as C$0.43 and last traded at C$0.40. Approximately 127,200 shares changed hands during mid-day trading, an increase of 303% from the average daily volume of 31,563 shares. The stock had previously closed at C$0.35.
New Zealand Energy Stock Up 9.5%
The stock has a 50-day moving average of C$0.29 and a 200 day moving average of C$0.27. The company has a market capitalization of C$22.63 million, a PE ratio of -0.88 and a beta of 4.01. The company has a quick ratio of 0.45, a current ratio of 3.36 and a debt-to-equity ratio of 41.83.
New Zealand Energy Company Profile
New Zealand Energy Corp., together with its subsidiaries, engages in the exploration and production of oil and natural gas in New Zealand. It holds interests in three petroleum mining licenses, one petroleum mining permit, and one petroleum exploration permit. The company has interests in TWN Petroleum Mining Licenses comprising Waihapa/Ngaere, and Tariki; Copper Moki petroleum mining permit; and Eltham Petroleum exploration permit. It also operates midstream assets. The company was founded in 2010 and is based in New Plymouth, New Zealand.