The stock of Africa Energy Corp (CVE:AFE) hit a new 52-week high and has $0.46 target or 70.00% above today’s $0.27 share price. The 6 months bullish chart indicates low risk for the $69.31 million company. The 1-year high was reported on Nov, 10 by Barchart.com. If the $0.46 price target is reached, the company will be worth $48.52M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 4,000 shares traded hands. Africa Energy Corp (CVE:AFE) has risen 6.00% since October 11, 2016 and is uptrending. It has outperformed by 0.35% the S&P500.
More news for Africa Energy Corp (CVE:AFE) were recently published by: Marketwired.com, which released: “Africa Energy Announces C$15 Million Private Placement” on October 31, 2016. Marketwired.com‘s article titled: “Africa Energy Announces Books Closed and Pricing Set on Cdn $15 Million …” and published on November 01, 2016 is yet another important article.
Africa Energy Corp. , formerly Horn Petroleum Corporation, is a Canada exploration-stage international gas and oil exploration and development company. The company has a market cap of $69.31 million. The Firm focuses on the BLOCK 2B in South Africa. It currently has negative earnings. Block 2B covers approximately 4,360 square kilometers of the South African Western offshore approximately 300 kilometers north of Cape Town.
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