Africa Energy Corp. (CVE:AFE – Get Free Report) shares rose 16.7% on Wednesday . The stock traded as high as C$0.04 and last traded at C$0.04. Approximately 155,000 shares changed hands during mid-day trading, an increase of 71% from the average daily volume of 90,800 shares. The stock had previously closed at C$0.03.
Africa Energy Stock Performance
The stock’s 50 day moving average is C$0.03 and its 200 day moving average is C$0.03. The company has a current ratio of 0.24, a quick ratio of 28.20 and a debt-to-equity ratio of 13.68. The firm has a market cap of C$42.30 million, a price-to-earnings ratio of -0.16 and a beta of 1.06.
About Africa Energy
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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