Africa Energy (CVE:AFE) Sets New 52-Week High – Still a Buy?

Africa Energy Corp. (CVE:AFE) reached a new 52-week high during trading on Thursday . The stock traded as high as C$0.44 and last traded at C$0.34, with a volume of 91781 shares changing hands. The stock had previously closed at C$0.30.

Africa Energy Price Performance

The firm’s 50 day moving average price is C$0.16 and its two-hundred day moving average price is C$0.15. The stock has a market cap of C$201.25 million, a PE ratio of -1.28 and a beta of -0.16.

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