ShaMaran Petroleum (CVE:SNM) Share Price Passes Below 50-Day Moving Average - Here's What Happened

Key Points

• ShaMaran Petroleum shares crossed below its 50-day moving average on Wednesday; the 50‑day MA is C$0.24, the stock traded as low as C$0.23 and last traded at C$0.24 on a volume of 363,456 shares.
• The company has a market cap of C$690.79 million, a P/E of 8.83, a quick ratio of 1.07, current ratio of 4.44 and debt-to-equity of 63.72, and it operates oil and gas production in the Kurdistan region of Iraq (Atrush and Sarsang blocks).

ShaMaran Petroleum Corp. (CVE:SNM - ) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$0.24 and traded as low as C$0.23. ShaMaran Petroleum shares last traded at C$0.24, with a volume of 363,456 shares changing hands.

ShaMaran Petroleum Stock Performance

The business has a fifty day simple moving average of C$0.24 and a two-hundred day simple moving average of C$0.24. The company has a quick ratio of 1.07, a current ratio of 4.44 and a debt-to-equity ratio of 63.72. The company has a market cap of C$690.79 million, a P/E ratio of 8.83 and a beta of 1.71.

About ShaMaran Petroleum

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.

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