Africa Energy (CVE:AFE) Shares Up 33.3% – Still a Buy?

Africa Energy Corp. (CVE:AFE) shares traded up 33.3% during mid-day trading on Thursday . The stock traded as high as C$0.04 and last traded at C$0.04. 691,000 shares were traded during trading, an increase of 262% from the average session volume of 191,002 shares. The stock had previously closed at C$0.03.

Africa Energy Stock Up 12.5 %

The company has a debt-to-equity ratio of 13.68, a current ratio of 0.24 and a quick ratio of 28.20. The firm has a 50-day moving average of C$0.03 and a 200 day moving average of C$0.03. The stock has a market capitalization of C$63.45 million, a price-to-earnings 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.