Reconnaissance Energy Africa (CVE:RECO) Given a C$1.75 Price Target at Canaccord Genuity Group

Reconnaissance Energy Africa (CVE:RECO) has been given a C$1.75 price target by investment analysts at Canaccord Genuity Group in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 55.56% from the company’s previous close.

Reconnaissance Energy Africa Price Performance

Shares of CVE RECO traded down C$0.01 during mid-day trading on Wednesday, reaching C$1.13. 201,694 shares of the company traded hands, compared to its average volume of 833,822. The firm has a market cap of C$433.06 million, a PE ratio of -28.13 and a beta of -0.19. Reconnaissance Energy Africa has a fifty-two week low of C$0.40 and a fifty-two week high of C$1.35. The stock has a fifty day simple moving average of C$1.13 and a 200-day simple moving average of C$0.97.

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.