Africa Energy (CVE:AFE) Stock Price Up 33.3% – Here’s Why

Africa Energy Corp. (CVE:AFE)’s share price rose 33.3% during trading on Thursday . The stock traded as high as C$0.04 and last traded at C$0.04. Approximately 691,000 shares traded hands during trading, an increase of 262% from the average daily volume of 191,002 shares. The stock had previously closed at C$0.03.

Africa Energy Stock Up 33.3 %

The firm has a market cap of C$56.40 million, a price-to-earnings ratio of -0.21 and a beta of 1.06. The firm has a 50 day moving average of C$0.03 and a 200 day moving average of C$0.03. 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.