Africa Energy (CVE:AFE) Trading Up 33.3% – Here’s What Happened

Shares of Africa Energy Corp. (CVE:AFE) 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 were traded during trading, an increase of 420% from the average daily volume of 132,835 shares. The stock had previously closed at C$0.03.

Africa Energy Stock Up 12.5 %

The firm has a market cap of C$63.45 million, a P/E ratio of -0.24 and a beta of 1.06. The company has a debt-to-equity ratio of 13.68, a quick ratio of 28.20 and a current ratio of 0.24. The firm’s fifty day moving average is C$0.03 and its 200 day moving average is C$0.03.

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.