Canacol Energy (TSE:CNE) Shares Up 33.5% - Time to Buy?

Key Points

• Canacol Energy Ltd shares surged by 33.5%, reaching a high of C$2.33 from a previous close of C$1.64.
• The trading volume increased dramatically to 494,143 shares, marking a 1,462% rise compared to the average session volume.
• With a market cap of C$53.23 million and a P/E ratio of 2.35, the company operates in the natural gas and oil sector in Colombia.

Canacol Energy Ltd (TSE:CNE - ) shot up 33.5% during trading on Friday . The company traded as high as C$2.33 and last traded at C$2.19. 494,143 shares were traded during mid-day trading, an increase of 1,462% from the average session volume of 31,645 shares. The stock had previously closed at C$1.64.

Canacol Energy Price Performance

The business has a 50-day simple moving average of C$2.16 and a 200 day simple moving average of C$2.89. The stock has a market cap of C$53.23 million, a P/E ratio of 2.35 and a beta of 0.82. The company has a current ratio of 1.50, a quick ratio of 1.34 and a debt-to-equity ratio of 209.68.

Canacol Energy Company Profile

Canacol Energy Ltd is a natural gas and oil exploration and production company. The company operates in the Lower & Middle Magdalena Basins of Colombia.

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