Logan Energy (CVE:LGN) Reaches New 12-Month High on Analyst Upgrade

Logan Energy Corp. (CVE:LGN) hit a new 52-week high during mid-day trading on Thursday after Scotiabank upgraded the stock to a strong-buy rating. The stock traded as high as C$0.96 and last traded at C$0.96, with a volume of 3495146 shares trading hands. The stock had previously closed at C$0.86.

Several other equities analysts have also issued reports on LGN. Canadian Imperial Bank of Commerce raised Logan Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. ATB Cormark Capital Markets raised Logan Energy to a “moderate buy” rating in a research report on Tuesday, February 17th. Three investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy” and a consensus target price of C$1.21.

Logan Energy Price Performance

The firm has a market capitalization of C$565.89 million, a price-to-earnings ratio of 23.75 and a beta of 5.15. The firm has a 50 day moving average price of C$0.81 and a 200-day moving average price of C$0.81.

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.