TAG Oil Ltd. (CVE:TAO – Get Free Report) was up 12.5% on Monday following insider buying activity. The company traded as high as C$0.04 and last traded at C$0.04. Approximately 3,562,643 shares traded hands during mid-day trading, an increase of 506% from the average daily 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 company’s stock in a transaction dated Thursday, October 22nd. The stock was bought at an average cost of C$0.05 per share, for a total transaction of C$54,750.00. Following the transaction, the director owned 15,010,000 shares of the company’s stock, valued at C$750,500. This represents a 7.87% increase in their ownership of the stock.
TAG Oil Trading Up 12.5%
The company’s 50-day moving average is C$0.08 and its 200-day moving average is C$0.08. The firm has a market cap of C$15.40 million, a price-to-earnings ratio of -4.50 and a beta of -0.33.
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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