ShaMaran Petroleum (CVE:SNM) Stock Price Up 13.6% – Here’s Why

ShaMaran Petroleum Corp. (CVE:SNM) shot up 13.6% on Monday . The company traded as high as C$0.16 and last traded at C$0.15. 1,728,256 shares changed hands during mid-day trading, an increase of 571% from the average session volume of 257,441 shares. The stock had previously closed at C$0.13.

ShaMaran Petroleum Trading Down 3.1 %

The company has a quick ratio of 1.07, a current ratio of 4.05 and a debt-to-equity ratio of 148.75. The business has a 50-day moving average of C$0.12 and a 200-day moving average of C$0.09. The stock has a market cap of C$440.20 million, a price-to-earnings ratio of -3.75 and a beta of 1.14.

ShaMaran Petroleum (CVE:SNM) last issued its quarterly earnings data on Thursday, November 7th. The company reported C$0.04 earnings per share for the quarter. ShaMaran Petroleum had a negative net margin of 12.93% and a negative return on equity of 7.04%. As a group, research analysts forecast that ShaMaran Petroleum Corp. will post 0.0271318 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director William A.W. Lundin acquired 501,500 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of C$0.12 per share, with a total value of C$60,180.00. Company insiders own 25.89% of the company’s stock.

About ShaMaran Petroleum

ShaMaran Petroleum Corp., together with its subsidiaries, engages in the oil and gas exploration and production. It holds interest in the Atrush Block production sharing contract; and in the Sarsang Production Sharing Contract in the Kurdistan region of Iraq. The company was incorporated in 1991 and is headquartered in Vancouver, Canada.