Shares of Africa Energy Corp. (CVE:AFE – Get Free Report) dropped 14.3% on Friday . The company traded as low as C$0.03 and last traded at C$0.03. Approximately 137,083 shares traded hands during mid-day trading, an increase of 72% from the average daily volume of 79,896 shares. The stock had previously closed at C$0.04.
Africa Energy Stock Performance
The firm has a market cap of C$34.64 million, a PE ratio of -0.16 and a beta of 1.06. The company has a quick ratio of 28.20, a current ratio of 0.25 and a debt-to-equity ratio of 28.69. The business has a 50 day simple moving average of C$0.04 and a two-hundred day simple moving average of C$0.03.
Africa Energy Company Profile
Africa Energy Corp. operates as an oil and gas exploration and production company in South Africa and Namibia. The company focuses on potential gas condensate development on Block 11B/12B offshore in South Africa. It also holds interest in the Block 2B offshore the Republic of South Africa. The company was formerly known as Horn Petroleum Corporation and changed its name to Africa Energy Corp.
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