Logan Energy (CVE:LGN) Reaches New 1-Year High – Should You Buy?

Shares of Logan Energy Corp. (CVE:LGN) hit a new 52-week high during trading on Thursday . The company traded as high as C$1.20 and last traded at C$1.20, with a volume of 270759 shares trading hands. The stock had previously closed at C$1.18.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LGN shares. Scotiabank raised Logan Energy to a “strong-buy” rating in a research note on Friday, June 26th. National Bank Financial lifted their target price 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. Finally, Royal Bank Of Canada set a C$1.50 target price on shares of Logan Energy and gave the stock a “moderate buy” rating in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$1.38.

Logan Energy Stock Performance

The business’s 50-day simple moving average is C$1.02 and its two-hundred day simple moving average is C$0.95. The firm has a market cap of C$816.11 million, a price-to-earnings ratio of 19.67 and a beta of -0.02.

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.