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

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

Wall Street Analyst Weigh In

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

Logan Energy Trading Up 7.5%

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

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.