ShaMaran Petroleum (CVE:SNM) Reaches New 52-Week High - Still a Buy?

Key Points

• ShaMaran Petroleum shares reached a new 12-month high, trading at C$0.27 with a volume of nearly 1.94 million shares.
• The company has a market capitalization of C$745.95 million and a PE ratio of 8.67, indicating strong financial metrics for potential investors.
• ShaMaran Petroleum is involved in oil and gas exploration and production in the Kurdistan region of Iraq, holding interests in key production sharing contracts.

ShaMaran Petroleum Corp. (CVE:SNM - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as C$0.27 and last traded at C$0.26, with a volume of 1937689 shares traded. The stock had previously closed at C$0.24.

ShaMaran Petroleum Trading Up 10.4%

The company has a quick ratio of 1.07, a current ratio of 4.89 and a debt-to-equity ratio of 100.09. The business's 50 day simple moving average is C$0.22 and its 200 day simple moving average is C$0.21. The stock has a market cap of C$760.29 million, a price-to-earnings ratio of 8.83 and a beta of 1.23.

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.