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

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

Africa Energy Price Performance

The stock has a market cap of C$56.40 million, a PE ratio of -0.21 and a beta of 1.06. The business’s 50-day simple moving average is C$0.03 and its 200-day simple moving average is 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.

About Africa Energy

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.