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

Shares of Logan Energy Corp. (CVE:LGN) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$1.08 and last traded at C$1.07, with a volume of 585372 shares changing hands. The stock had previously closed at C$0.98.

Analyst Ratings Changes

LGN has been the subject of a number of analyst reports. Scotiabank raised shares of Logan Energy to a “strong-buy” rating in a report on Friday, June 26th. National Bank Financial upped their target price on shares of Logan Energy from C$1.50 to C$1.75 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Finally, Royal Bank Of Canada set a C$1.50 price target on shares of Logan Energy and gave the stock a “moderate buy” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$1.38.

Logan Energy Price Performance

The business has a 50 day simple moving average of C$0.91 and a 200 day simple moving average of C$0.90. The company has a market cap of C$767.65 million, a price-to-earnings ratio of 27.75 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.