Logan Energy (CVE:LGN) Hits New 12-Month High – Here’s What Happened

Shares of Logan Energy Corp. (CVE:LGN) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$1.03 and last traded at C$1.01, with a volume of 521443 shares. The stock had previously closed at C$0.99.

Wall Street Analyst Weigh In

LGN has been the topic of several research analyst reports. ATB Cormark Capital Markets upgraded Logan Energy to a “moderate buy” rating in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce raised Logan Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 11th. Finally, Scotiabank upgraded Logan Energy to a “strong-buy” rating in a research note on Thursday, March 12th. Three research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Strong Buy” and an average target price of C$1.21.

Logan Energy Stock Down 3.1%

The stock has a market cap of C$643.17 million, a P/E ratio of 15.50 and a beta of 5.15. The business’s 50-day simple moving average is C$0.85 and its two-hundred day simple moving average is C$0.82.

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.