Logan Energy (CVE:LGN) Reaches New 12-Month High – Time to Buy?

Shares of Logan Energy Corp. (CVE:LGN) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$1.15 and last traded at C$1.14, with a volume of 1672132 shares. The stock had previously closed at C$1.06.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LGN. National Bank Financial upped their price objective on Logan Energy from C$1.50 to C$1.75 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Scotiabank raised Logan Energy to a “strong-buy” rating in a report on Friday, June 26th. Finally, Royal Bank Of Canada set a C$1.50 target price on Logan Energy and gave the stock a “moderate buy” rating in a research report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, Logan Energy presently has an average rating of “Buy” and an average price target of C$1.38.

Logan Energy Price Performance

The firm’s 50 day moving average is C$0.96 and its 200 day moving average is C$0.92. The company has a market capitalization of C$788.45 million, a PE ratio of 19.00 and a beta of -0.05.

Logan Energy Company Profile

Logan Energy Corp. engages in the exploration, development and production of crude oil and natural gas properties. The company holds interest in the Simonette and Pouce Coupe properties in northwest Alberta; and the Flatrock property in northeastern British Columbia. Logan Energy Corp. was incorporated in 2023 and is headquartered in Calgary, Canada.