Reconnaissance Energy Africa (CVE:RECO) Given a C$1.75 Price Target by Canaccord Genuity Group Analysts

Reconnaissance Energy Africa (CVE:RECO) has been given a C$1.75 target price by analysts at Canaccord Genuity Group in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 55.56% from the company’s previous close.

Reconnaissance Energy Africa Price Performance

Reconnaissance Energy Africa stock traded down C$0.01 during midday trading on Wednesday, reaching C$1.13. The stock had a trading volume of 201,694 shares, compared to its average volume of 833,822. The firm’s fifty day simple moving average is C$1.13 and its two-hundred day simple moving average is C$0.97. Reconnaissance Energy Africa has a twelve month low of C$0.40 and a twelve month high of C$1.35. The firm has a market cap of C$433.06 million, a price-to-earnings ratio of -28.13 and a beta of -0.19.

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. Reconnaissance Energy Africa Ltd. is headquartered in Vancouver, Canada.