Time to Buy Africa Oil Corp After Today’s Huge Decline?

 Time to Buy Africa Oil Corp After Today's Huge Decline?

The stock of Africa Oil Corp (TSE:AOI) is a huge mover today! About 28,661 shares traded hands. Africa Oil Corp (TSE:AOI) has risen 22.11% since March 10, 2016 and is uptrending. It has outperformed by 16.49% the S&P500.
The move comes after 6 months negative chart setup for the $1.06B company. It was reported on Oct, 17 by Barchart.com. We have $2.16 PT which if reached, will make TSE:AOI worth $63.60 million less.

Africa Oil Corp (TSE:AOI) Ratings Coverage

Out of 5 analysts covering Africa Oil (TSE:AOI), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. $4.50 is the highest target while $2.50 is the lowest. The $3.33 average target is 44.78% above today’s ($2.3) stock price. Africa Oil has been the topic of 8 analyst reports since November 9, 2015 according to StockzIntelligence Inc. The stock of Africa Oil Corp (TSE:AOI) earned “Sector Perform” rating by Scotia Capital on Tuesday, August 16.

Africa Oil Corp. is a Canada-based gas and oil exploration and development company. The company has a market cap of $1.06 billion. The Firm has gas and oil interest in Kenya and Ethiopia. It currently has negative earnings. The Firm focuses on the acquisition, exploration and development of gas and oil assets, located in under-explored geographic areas, in the early phase of the upstream gas and oil life-cycle.

AOI Company Profile

Alliance One International, Inc., incorporated on October 19, 1994, is principally engaged in purchasing, processing, storing and selling leaf tobacco. The Firm purchases tobacco primarily in the United States, Africa, Europe, South America and Asia for sale to clients primarily in the United States, Europe and Asia. The Company’s divisions include North America and Other regions. The North America segment includes Wilson, N.C., Farmville, N.C. and Danville, VA in the United States. The Other regions segment includes South America, Africa, Europe and Asia. It operates in Venancio Aires, Brazil; Ararangua, Brazil, and El Carril, Argentina in South America. It operates in Lilongwe, Malawi; Morogoro, Tanzania, and Harare, Zimbabwe in Africa. It operates in Karlsruhe, Germany in Europe. It operates in Ngoro, Indonesia in Asia.

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