Africa Energy (CVE:AFE) Trading Up 16.7% – Time to Buy?

by · The Markets Daily

Africa Energy Corp. (CVE:AFE – Get Free Report)’s stock price shot up 16.7% during mid-day trading on Wednesday . The company traded as high as C$0.04 and last traded at C$0.04. 155,000 shares were traded during trading, an increase of 71% from the average session volume of 90,800 shares. The stock had previously closed at C$0.03.

Africa Energy Stock Up 16.7 %

The stock has a market cap of C$49.35 million, a price-to-earnings ratio of -0.18 and a beta of 1.06. The business’s 50 day moving average is C$0.03 and its 200-day moving average is C$0.03. The company has a debt-to-equity ratio of 13.68, a quick ratio of 28.20 and a current ratio of 0.24.

About Africa Energy

(Get Free Report)

Africa Energy Corp. operates as an oil and gas exploration and production company in South Africa and Namibia. The company focuses on potential gas condensate development on Block 11B/12B offshore in South Africa. It also holds interest in the Block 2B offshore the Republic of South Africa. The company was formerly known as Horn Petroleum Corporation and changed its name to Africa Energy Corp.

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