Africa Energy (CVE:AFE) reached a new 52-week high on Tuesday . The company traded as high as C$0.24 and last traded at C$0.21, with a volume of 414274 shares. The stock had previously closed at C$0.17.
Separately, Numis Securities set a C$0.35 price target on shares of Africa Energy and gave the stock a “buy” rating in a research note on Friday, March 23rd.
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Africa Energy Company Profile
Africa Energy Corp. operates as an oil and gas exploration and production company in the Republic of South Africa. It holds a 90% interest in the offshore Exploration Right for Block 2B that covers an area of 4,360 square kilometers located in the west coast of South Africa; 30% interest in the Petroleum Exploration License 37 that covers an area of 17,295 square kilometers located in the northern Namibian offshore region; and 4.9% interest in the Block 11B/12B covering an area of approximately 18,734 square kilometers located in the Outeniqua Basin of the southern coast of South Africa.
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