ShaMaran Petroleum (CVE:SNM) Sets New 52-Week High – Here’s Why

ShaMaran Petroleum Corp. (CVE:SNM)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$0.18 and last traded at C$0.18, with a volume of 42285 shares traded. The stock had previously closed at C$0.17.

ShaMaran Petroleum Stock Performance

The company has a debt-to-equity ratio of 100.09, a current ratio of 4.89 and a quick ratio of 1.07. The firm has a market capitalization of C$340.18 million, a PE ratio of 4.63 and a beta of 1.14. The firm has a fifty day moving average price of C$0.13 and a 200 day moving average price of C$0.10.

Insiders Place Their Bets

In other news, Director Garrett Soden sold 11,113,667 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of C$0.15, for a total value of C$1,667,050.05. Also, Director William A.W. Lundin bought 501,500 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of C$0.12 per share, with a total value of C$60,180.00. Corporate insiders own 25.89% of the company’s stock.

About ShaMaran Petroleum

ShaMaran Petroleum Corp., together with its subsidiaries, engages in the oil and gas exploration and production. It holds interest in the Atrush Block production sharing contract; and in the Sarsang Production Sharing Contract in the Kurdistan region of Iraq. The company was incorporated in 1991 and is headquartered in Vancouver, Canada.