Logan Energy (CVE:LGN) Sets New 1-Year High – Here’s Why

Logan Energy Corp. (CVE:LGN) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$1.03 and last traded at C$1.03, with a volume of 3005484 shares changing hands. The stock had previously closed at C$0.99.

Wall Street Analysts Forecast Growth

LGN has been the topic of a number of recent analyst reports. National Bank Financial boosted their price target on shares of 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. Scotiabank upgraded Logan Energy to a “strong-buy” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and a consensus price target of C$1.35.

Logan Energy Stock Performance

The company’s 50 day moving average price is C$0.90 and its 200-day moving average price is C$0.88. The company has a market cap of C$712.32 million, a price-to-earnings ratio of 25.75 and a beta of -0.06.

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.