Reconnaissance Energy Africa (CVE:RECO) Shares Climb 6.4% – Here’s What Happened

Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO) traded up 6.4% on Monday. The company traded as high as C$0.58 and last traded at C$0.58. 496,832 shares were traded during trading, a decline of 29% from the average session volume of 702,429 shares. The stock had previously closed at C$0.55.

Analyst Ratings Changes

Separately, Canaccord Genuity Group set a C$1.75 target price on shares of Reconnaissance Energy Africa and gave the stock a “speculative buy” rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$1.75.

Reconnaissance Energy Africa Trading Up 8.3%

The company has a 50 day moving average price of C$0.72 and a 200 day moving average price of C$0.95. The firm has a market cap of C$245.42 million, a PE ratio of -14.75 and a beta of -0.30.

About Reconnaissance Energy Africa

Reconnaissance Energy Africa Ltd., a junior oil and gas company, engages in exploration and development of oil and gas properties in Namibia and Botswana. The company holds a 90% interest in a petroleum exploration license that covers an area of approximately 25,341.33 square kilometer located in Namibia; and 100% working interest in a petroleum license, which covers an area of 8,990 square kilometer located in northwestern Botswana. Reconnaissance Energy Africa Ltd. is headquartered in Vancouver, Canada.