Logan Energy (CVE:LGN) Reaches New 1-Year High – Time to Buy?

Logan Energy Corp. (CVE:LGN) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$1.22 and last traded at C$1.22, with a volume of 630485 shares changing hands. The stock had previously closed at C$1.22.

Wall Street Analysts Forecast Growth

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

Logan Energy Stock Performance

The business has a 50-day simple moving average of C$1.08 and a 200 day simple moving average of C$0.98. The firm has a market cap of C$816.11 million, a P/E ratio of 19.67 and a beta of -0.02.

About Logan Energy

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.