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

Logan Energy Corp. (CVE:LGN) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$1.20 and last traded at C$1.20, with a volume of 270759 shares traded. The stock had previously closed at C$1.18.

Analysts Set New Price Targets

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

Logan Energy Price Performance

The company has a market capitalization of C$816.11 million, a price-to-earnings ratio of 19.67 and a beta of -0.02. The firm’s fifty day moving average price is C$1.02 and its 200-day moving average price is C$0.95.

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.