Canacol Energy (TSE:CNE) Stock Price Up 33.5% - Here's Why

Key Points

• Canacol Energy Ltd's shares surged by 33.5%, reaching a high of C$2.33 during trading, marking an increase from a previous close of C$1.64.
• The company has a market capitalization of C$53.23 million and a significant price-to-earnings ratio of 2.35.
• Canacol Energy is involved in natural gas and oil exploration and production, operating primarily in the Lower & Middle Magdalena Basins of Colombia.

Canacol Energy Ltd (TSE:CNE - Get Free Report)'s stock price rose 33.5% during trading on Friday . The company traded as high as C$2.33 and last traded at C$2.19. Approximately 494,143 shares traded hands during mid-day trading, an increase of 1,462% from the average daily volume of 31,645 shares. The stock had previously closed at C$1.64.

Canacol Energy Trading Up 4.8%

The company has a debt-to-equity ratio of 209.68, a quick ratio of 1.34 and a current ratio of 1.50. The stock's fifty day moving average is C$2.15 and its 200 day moving average is C$2.86. The stock has a market cap of C$82.57 million, a P/E ratio of 2.69 and a beta of 1.21.

About Canacol Energy

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