Logan Energy (CVE:LGN) Reaches New 1-Year High – Here’s What Happened

Logan Energy Corp. (CVE:LGN) shares reached a new 52-week high on Friday . The stock traded as high as C$1.15 and last traded at C$1.14, with a volume of 1672132 shares traded. The stock had previously closed at C$1.06.

Analysts Set New Price Targets

LGN has been the subject of a number of recent analyst reports. National Bank Financial upped 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. Royal Bank Of Canada set a C$1.50 price objective on Logan Energy and gave the stock a “moderate buy” rating in a research note on Monday, August 10th. Finally, Scotiabank upgraded shares of 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 three have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$1.38.

Logan Energy Stock Performance

The company’s fifty day moving average price is C$0.97 and its 200-day moving average price is C$0.92. The stock has a market cap of C$774.61 million, a P/E ratio of 18.67 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.