Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Free Report)’s stock price dropped 17.2% during mid-day trading on Thursday . The company traded as low as C$0.74 and last traded at C$0.82. 2,911,801 shares changed hands during trading, an increase of 272% from the average session volume of 782,276 shares. The stock had previously closed at C$0.99.
Wall Street Analyst Weigh In
Separately, Canaccord Genuity Group set a C$1.75 target price on Reconnaissance Energy Africa and gave the company a “speculative buy” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$1.75.
Get Our Latest Stock Analysis on Reconnaissance Energy Africa
Reconnaissance Energy Africa Price Performance
About Reconnaissance Energy Africa
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.
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