Reconnaissance Energy Africa (CVE:RECO) Trading 6.9% Higher

Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Rating)’s share price traded up 6.9% during mid-day trading on Wednesday . The company traded as high as 5.30 and last traded at 5.30. 119,138 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 218,378 shares. The stock had previously closed at 4.96.

The firm has a market cap of $1.04 billion and a price-to-earnings ratio of -3.44. The business’s 50 day moving average price is 5.53 and its 200-day moving average price is 5.92.

About Reconnaissance Energy Africa (CVE:RECO)

Reconnaissance Energy Africa Ltd., a junior oil and gas company, engages in exploration and development of oil and gas potential in Namibia and Botswana. It holds a 90% interest in a petroleum exploration license that covers an area of approximately 25,341.33 km2 located in Namibia; and 100% working interest in a petroleum license, which covers an area of 8,990 square km2 located in northwestern Botswana.

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