ShaMaran Petroleum (CVE:SNM) Reaches New 12-Month High – Still a Buy?

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$0.22 and last traded at C$0.22, with a volume of 313000 shares traded. The stock had previously closed at C$0.21.

ShaMaran Petroleum Price Performance

The stock has a market cap of C$440.24 million, a PE ratio of 5.99 and a beta of 1.14. The business’s 50-day simple moving average is C$0.16 and its 200-day simple moving average is C$0.11. The company has a quick ratio of 1.07, a current ratio of 4.89 and a debt-to-equity ratio of 100.09.

Insider Activity at ShaMaran Petroleum

In related news, Director William A.W. Lundin purchased 501,500 shares of ShaMaran Petroleum stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of C$0.12 per share, for a total transaction of C$60,180.00. Also, Director Garrett Soden sold 11,113,667 shares of the company’s stock in a transaction that occurred 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. 25.89% of the stock is owned by corporate insiders.

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.