Africa Energy (CVE:AFE) Shares Up 53.1% – Still a Buy?

Africa Energy Corp. (CVE:AFE)’s stock price rose 53.1% during mid-day trading on Friday . The stock traded as high as C$0.25 and last traded at C$0.25. Approximately 127,608 shares traded hands during trading, an increase of 466% from the average daily volume of 22,536 shares. The stock had previously closed at C$0.16.

Africa Energy Price Performance

The company has a market capitalization of C$88.64 million, a price-to-earnings ratio of -1.28 and a beta of -0.16. The company has a current ratio of 0.25, a quick ratio of 28.20 and a debt-to-equity ratio of 28.69. The company has a 50 day moving average price of C$0.13 and a 200 day moving average price of C$0.14.

About Africa Energy

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. in March 2015. Africa Energy Corp. is headquartered in Vancouver, Canada.