Reconnaissance Energy Africa (CVE:RECO) Trading Up 37.5% – Here’s Why

by · The Markets Daily

Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Free Report)’s share price rose 37.5% during mid-day trading on Wednesday . The stock traded as high as C$0.76 and last traded at C$0.66. Approximately 7,918,963 shares traded hands during mid-day trading, an increase of 1,851% from the average daily volume of 405,819 shares. The stock had previously closed at C$0.48.

Reconnaissance Energy Africa Stock Up 37.5%

The company has a 50 day moving average price of C$0.48 and a 200-day moving average price of C$0.51. The company has a market cap of C$222.78 million, a price-to-earnings ratio of 2.13 and a beta of -0.19.

Reconnaissance Energy Africa Company Profile

(Get Free Report)

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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