Africa Energy (CVE:AFE) Trading Up 33.3% – Still a Buy?

Africa Energy Corp. (CVE:AFE) shares were up 33.3% during trading on Thursday . The company traded as high as C$0.04 and last traded at C$0.04. Approximately 747,500 shares changed hands during mid-day trading, an increase of 273% from the average daily volume of 200,419 shares. The stock had previously closed at C$0.03.

Africa Energy Trading Up 12.5 %

The company has a fifty day simple moving average of C$0.03 and a two-hundred day simple moving average of C$0.03. The stock has a market capitalization of C$63.45 million, a P/E ratio of -0.24 and a beta of 1.06. The company has a quick ratio of 28.20, a current ratio of 0.24 and a debt-to-equity ratio of 13.68.

Africa Energy Company Profile

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.