Africa Energy (OTCMKTS:HPMCF) had its price objective lifted by Canaccord Genuity from $0.31 to $0.47 in a note issued to investors on Tuesday, The Fly reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity’s price objective would indicate a potential upside of 27.51% from the company’s previous close.
Shares of HPMCF stock opened at $0.37 on Tuesday. The firm has a 50 day moving average of $0.34. Africa Energy has a twelve month low of $0.10 and a twelve month high of $0.43.
About Africa Energy
Africa Energy Corp. operates as an oil and gas exploration and production company in South Africa and Namibia. It holds a 90% interest in the Exploration Right for Block 2B offshore that covers an area of 3,604 square kilometers located in the west coast of South Africa; 30% interest in the Petroleum Exploration License 37 covering an area of 17,295 square kilometers located in the northern Namibian offshore region; and 4.9% interest in the Exploration Right for Block 11B/12B covering an area of approximately 19,000 square kilometers located in the Outeniqua Basin off the southern coast of South Africa.
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