ShaMaran Petroleum (CVE:SNM) Stock Price Up 11.1% - What's Next?

Key Points

• Shares jumped 11.1% in mid-day trading to as high as C$0.21 (last C$0.20) on Wednesday, with 102,640 shares traded—about 66% below the average session volume of 305,921; the stock had previously closed at C$0.18.
• The stock trades below its 50‑day (C$0.23) and 200‑day (C$0.24) moving averages and the company has a market cap of C$575.65 million, a P/E of 20.0, beta 1.65, quick ratio 1.07, current ratio 4.74 and debt/equity 53.02.
• ShaMaran is an oil and gas exploration and production company holding interests in the Atrush and Sarsang production sharing contracts in the Kurdistan region of Iraq and is headquartered in Vancouver.

Shares of ShaMaran Petroleum Corp. (CVE:SNM - ) traded up 11.1% during mid-day trading on Wednesday . The stock traded as high as C$0.21 and last traded at C$0.20. 102,640 shares were traded during trading, a decline of 66% from the average session volume of 305,921 shares. The stock had previously closed at C$0.18.

ShaMaran Petroleum Price Performance

The company has a 50 day moving average of C$0.23 and a 200 day moving average of C$0.24. The stock has a market capitalization of C$575.65 million, a price-to-earnings ratio of 20.00 and a beta of 1.65. The company has a quick ratio of 1.07, a current ratio of 4.74 and a debt-to-equity ratio of 53.02.

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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