Africa Energy (CVE:AFE) Trading Down 7.7%

Africa Energy Corp. (CVE:AFE – Get Rating)’s stock price dropped 7.7% during trading on Wednesday . The company traded as low as C$0.12 and last traded at C$0.12. Approximately 132,500 shares were traded during mid-day trading, an increase of 147% from the average daily volume of 53,687 shares. The stock had previously closed at C$0.13.

Africa Energy Price Performance

The company has a current ratio of 2.14, a quick ratio of 28.20 and a debt-to-equity ratio of 2.01. The company has a market cap of C$169.20 million, a P/E ratio of -12.00 and a beta of 1.50. The business’s fifty day moving average is C$0.15 and its 200 day moving average is C$0.18.

About Africa Energy

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Africa Energy Corp. operates as an oil and gas exploration and production company in South Africa and Namibia. It holds a 27.5% participating interest in the Exploration Right for Block 2B offshore that covers an area of 3,062 square kilometers located in the west coast of South Africa; 43.85% interest in the Petroleum Exploration License 37 covering an area of 17,295 square kilometers located in the northern Namibian offshore region; and 49% interest in the Exploration Right for Block 11B/12B covering an area of approximately 19,000 square kilometers located in the Outeniqua Basin off the southern coast of South Africa.