ShaMaran Petroleum (CVE:SNM) Trading Up 13.6% – Here’s What Happened

Shares of ShaMaran Petroleum Corp. (CVE:SNM) rose 13.6% during mid-day trading on Monday . The stock traded as high as C$0.16 and last traded at C$0.15. Approximately 1,728,256 shares changed hands during mid-day trading, an increase of 571% from the average daily volume of 257,441 shares. The stock had previously closed at C$0.13.

ShaMaran Petroleum Trading Up 13.6 %

The firm has a 50 day moving average of C$0.12 and a 200-day moving average of C$0.09. The company has a quick ratio of 1.07, a current ratio of 4.05 and a debt-to-equity ratio of 148.75. The firm has a market capitalization of C$426 million, a P/E ratio of -3.75 and a beta of 1.14.

ShaMaran Petroleum (CVE:SNM) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.04 EPS for the quarter. ShaMaran Petroleum had a negative return on equity of 7.04% and a negative net margin of 12.93%. On average, equities research analysts predict that ShaMaran Petroleum Corp. will post 0.0271318 earnings per share for the current fiscal year.

Insider Activity

In other ShaMaran Petroleum news, Director William A.W. Lundin bought 501,500 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost of C$0.12 per share, for a total transaction of C$60,180.00. Corporate insiders own 25.89% of the company’s stock.

ShaMaran Petroleum Company Profile

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.