Africa Energy (CVE:AFE) Trading Up 33.3% – Should You Buy?

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

Africa Energy Trading Up 12.5 %

The firm has a 50-day simple moving average of C$0.03 and a 200-day simple 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. The stock has a market cap of C$63.45 million, a PE ratio of -0.24 and a beta of 1.06.

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.