Reconnaissance Energy Africa (CVE:RECO) Shares Up 25.3% – Still a Buy?

Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO) traded up 25.3% on Thursday . The stock traded as high as C$1.26 and last traded at C$1.24. 1,389,000 shares were traded during trading, an increase of 360% from the average session volume of 301,630 shares. The stock had previously closed at C$0.99.

Reconnaissance Energy Africa Price Performance

The company has a market capitalization of C$328.77 million, a PE ratio of 3.54 and a beta of 1.24. The business’s 50 day simple moving average is C$1.06 and its 200 day simple moving average is C$1.02.

Reconnaissance Energy Africa Company Profile

Reconnaissance Energy Africa Ltd., a junior oil and gas company, engages in exploration and development of oil and gas properties in Namibia and Botswana. The company holds a 90% interest in a petroleum exploration license that covers an area of approximately 25,341.33 square kilometer located in Namibia; and 100% working interest in a petroleum license, which covers an area of 8,990 square kilometer located in northwestern Botswana.