ShaMaran Petroleum (CVE:SNM) Shares Down 8% – Here’s Why

Shares of ShaMaran Petroleum Corp. (CVE:SNM) were down 8% during trading on Wednesday . The company traded as low as C$0.12 and last traded at C$0.12. Approximately 294,070 shares changed hands during mid-day trading, an increase of 54% from the average daily volume of 191,500 shares. The stock had previously closed at C$0.13.

ShaMaran Petroleum Stock Down 4.2 %

The firm has a market capitalization of C$326.60 million, a price-to-earnings ratio of -3.75 and a beta of 1.14. The business’s 50-day moving average is C$0.11 and its two-hundred day moving average is C$0.09. The company has a debt-to-equity ratio of 148.75, a quick ratio of 1.07 and a current ratio of 4.05.

ShaMaran Petroleum (CVE:SNM) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$0.04 earnings per share for the quarter. ShaMaran Petroleum had a negative net margin of 12.93% and a negative return on equity of 7.04%. On average, equities analysts anticipate that ShaMaran Petroleum Corp. will post 0.0271318 earnings per share for the current year.

Insider Activity

In other news, Director William A.W. Lundin bought 501,500 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of C$0.12 per share, with a total value of C$60,180.00. Corporate insiders own 25.89% of the company’s stock.

ShaMaran Petroleum Company Profile

ShaMaran Petroleum Corp., together with its subsidiaries, engages in the oil and gas exploration and production. It holds interest in the Atrush Block production sharing contract; and in the Sarsang Production Sharing Contract in the Kurdistan region of Iraq. The company was incorporated in 1991 and is headquartered in Vancouver, Canada.