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

Logan Energy Corp. (CVE:LGN)’s stock price hit a new 52-week high during mid-day trading on Monday. The stock traded as high as C$1.22 and last traded at C$1.18, with a volume of 87197 shares. The stock had previously closed at C$1.21.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LGN. National Bank Financial increased 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. Royal Bank Of Canada set a C$1.50 target price on Logan Energy and gave the stock a “moderate buy” rating in a report on Monday, August 10th. Finally, Scotiabank upgraded Logan Energy to a “strong-buy” rating in a research report on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$1.38.

Logan Energy Stock Performance

The stock’s fifty day simple moving average is C$1.09 and its two-hundred day simple moving average is C$0.98. The stock has a market capitalization 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.