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

Logan Energy Corp. (CVE:LGN)’s share price reached a new 52-week high on Wednesday . The company traded as high as C$1.08 and last traded at C$1.07, with a volume of 585372 shares trading hands. The stock had previously closed at C$0.98.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Scotiabank raised 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 target price on Logan Energy and gave the company a “moderate buy” rating in a research report on Monday. Finally, 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 report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$1.38.

Logan Energy Price Performance

The stock has a 50-day moving average price of C$0.92 and a 200-day moving average price of C$0.90. The company has a market capitalization of C$781.48 million, a price-to-earnings ratio of 28.25 and a beta of -0.05.

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.