Shares of TAG Oil Ltd. (CVE:TAO – Get Free Report) rose 12.5% on Monday after an insider bought additional shares in the company. The stock traded as high as C$0.04 and last traded at C$0.04. 3,562,643 shares were traded during mid-day trading, an increase of 506% from the average session volume of 587,515 shares. The stock had previously closed at C$0.04.
Specifically, Director Abdel Fattah Badwi bought 1,095,000 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The shares were bought at an average price of C$0.05 per share, with a total value of C$54,750.00. Following the completion of the transaction, the director directly owned 15,010,000 shares in the company, valued at approximately C$750,500. This represents a 7.87% increase in their ownership of the stock.
TAG Oil Price Performance
The company has a market cap of C$15.40 million, a PE ratio of -4.50 and a beta of -0.33. The firm’s 50 day moving average is C$0.08 and its 200 day moving average is C$0.08.
About TAG Oil
TAG Oil Ltd., together with its subsidiaries, engages in the exploration, development, and production of oil and gas in Canada, the Middle East, and North Africa. The company was formerly known as Durum Cons. Energy Corp. and changed its name to TAG Oil Ltd. in June 2002. The company was incorporated in 1990 and is headquartered in Vancouver, Canada.
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