Logan Energy (CVE:LGN) Reaches New 12-Month High on Analyst Upgrade

Logan Energy Corp. (CVE:LGN)’s stock price reached a new 52-week high on Thursday after Scotiabank upgraded the stock to a strong-buy rating. The stock traded as high as C$0.96 and last traded at C$0.96, with a volume of 3495146 shares. The stock had previously closed at C$0.86.

Several other brokerages have also issued reports on LGN. Canadian Imperial Bank of Commerce raised shares of Logan Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday. ATB Cormark Capital Markets raised Logan Energy to a “moderate buy” rating in a research note on Tuesday, February 17th. Three investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat, Logan Energy has an average rating of “Strong Buy” and an average price target of C$1.21.

Logan Energy Stock Performance

The company has a fifty day simple moving average of C$0.81 and a 200 day simple moving average of C$0.81. The stock has a market capitalization of C$565.89 million, a price-to-earnings ratio of 23.75 and a beta of 5.15.

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.