Africa Energy Corp. (CVE:AFE – Get Free Report) shot up 18.8% during trading on Friday . The company traded as high as C$0.25 and last traded at C$0.19. 140,108 shares changed hands during mid-day trading, an increase of 508% from the average session volume of 23,057 shares. The stock had previously closed at C$0.16.
Africa Energy Trading Up 12.5%
The firm has a market capitalization of C$86.25 million, a price-to-earnings ratio of -1.28 and a beta of -0.16. The company has a quick ratio of 28.20, a current ratio of 0.25 and a debt-to-equity ratio of 28.69. The firm’s 50 day moving average is C$0.13 and its 200 day moving average is C$0.14.
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. in March 2015. Africa Energy Corp. is headquartered in Vancouver, Canada.
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