Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Free Report)’s share price rose 20.2% during mid-day trading on Wednesday . The stock traded as high as C$1.19 and last traded at C$1.19. Approximately 1,078,602 shares changed hands during trading, an increase of 280% from the average daily volume of 284,094 shares. The stock had previously closed at C$0.99.
Reconnaissance Energy Africa Stock Performance
The company has a market capitalization of C$225.37 million, a P/E ratio of 2.43 and a beta of 1.24. The firm’s fifty day moving average is C$1.06 and its 200-day moving average is C$1.02.
Reconnaissance Energy Africa Company Profile
Reconnaissance Energy Africa Ltd., a junior oil and gas company, engages in exploration and development of oil and gas properties in Namibia and Botswana. The company holds a 90% interest in a petroleum exploration license that covers an area of approximately 25,341.33 square kilometer located in Namibia; and 100% working interest in a petroleum license, which covers an area of 8,990 square kilometer located in northwestern Botswana.
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