Africa Energy (CVE:AFE) Shares Pass Above 50 Day Moving Average - Here's What Happened

Key Points

• Africa Energy Corp. (CVE:AFE) shares have crossed above their 50-day moving average of C$0.15, trading as high as C$0.18 during Friday's session.
• The company has a market capitalization of C$86.25 million and a PE ratio of -2.00, indicating a negative earnings situation.
• Africa Energy, focused on oil and gas exploration in South Africa and Namibia, is actively developing potential gas condensate on Block 11B/12B offshore in South Africa.

Africa Energy Corp. (CVE:AFE - Get Free Report) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$0.15 and traded as high as C$0.18. Africa Energy shares last traded at C$0.18, with a volume of 1,001 shares traded.

Africa Energy Price Performance

The company has a 50-day moving average of C$0.15 and a two-hundred day moving average of C$0.09. The stock has a market capitalization of C$86.25 million, a PE ratio of -2.00 and a beta of -0.95. The company has a debt-to-equity ratio of 28.69, a current ratio of 0.25 and a quick ratio of 28.20.

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.