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

Shares of Logan Energy Corp. (CVE:LGN) hit a new 52-week high on Wednesday . The stock traded as high as C$1.20 and last traded at C$1.20, with a volume of 700565 shares traded. The stock had previously closed at C$1.19.

Analysts Set New Price Targets

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

Logan Energy Stock Performance

The company has a market capitalization of C$836.86 million, a price-to-earnings ratio of 20.17 and a beta of -0.02. The firm has a 50-day simple moving average of C$1.06 and a two-hundred day simple moving average of C$0.97.

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.