Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Free Report) rose 13.1% during mid-day trading on Wednesday . The company traded as high as C$1.14 and last traded at C$1.12. Approximately 586,506 shares changed hands during mid-day trading, an increase of 125% from the average daily volume of 260,230 shares. The stock had previously closed at C$0.99.
Reconnaissance Energy Africa Price Performance
The company has a market capitalization of C$251.88 million, a P/E ratio of 2.71 and a beta of 1.24. The stock’s 50 day moving average is C$1.06 and its 200-day moving average is C$1.02.
Reconnaissance Energy Africa Company Profile
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.
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