Renaissance Oil (CVE:ROE) Shares Up 3% – Here’s Why

Renaissance Oil Corp. (CVE:ROE)’s share price shot up 3% during mid-day trading on Thursday . The stock traded as high as C$0.51 and last traded at C$0.51. 1,991,062 shares were traded during trading, an increase of 54% from the average session volume of 1,292,922 shares. The stock had previously closed at C$0.50.

Renaissance Oil Stock Performance

The stock has a market capitalization of C$190.57 million and a P/E ratio of -6.22. The stock’s 50-day simple moving average is C$0.51 and its 200 day simple moving average is C$0.51. The company has a debt-to-equity ratio of 37.94, a current ratio of 0.75 and a quick ratio of 0.74.

Renaissance Oil Company Profile

Renaissance Oil Corp., together with its subsidiaries, engages in the acquisition, development, and production of oil and gas properties in Mexico and Africa. It holds interests in the Mundo Nuevo block covering an area of 27.7 square kilometers; Topén block covering an area of 25.3 square kilometers; and Malva block, including an area of 21.2 square kilometers located in Chiapas, Mexico.