Canacol Energy (TSE:CNE) Shares Up 11.4% – Should You Buy?

Canacol Energy Ltd (TSE:CNE)’s share price rose 11.4% during trading on Wednesday . The stock traded as high as C$3.83 and last traded at C$3.80. Approximately 123,642 shares traded hands during trading, an increase of 189% from the average daily volume of 42,838 shares. The stock had previously closed at C$3.41.

Canacol Energy Price Performance

The business has a 50 day simple moving average of C$3.26 and a two-hundred day simple moving average of C$3.97. The firm has a market capitalization of C$131.32 million, a P/E ratio of 8.66 and a beta of 0.82. The company has a debt-to-equity ratio of 203.67, a quick ratio of 1.34 and a current ratio of 0.97.

Canacol Energy Company Profile

Canacol Energy Ltd operates as an oil and gas company in Colombia. It engages in the exploration and development of natural gas. The company was formerly known as BrazAlta Resources Corp. and changed its name to Canacol Energy Ltd in February 2009. The company was incorporated in 1970 and is headquartered in Calgary, Canada.