Loncor Gold (TSE:LN) Shares Down 4.8% – Should You Sell?

Shares of Loncor Gold Inc. (TSE:LN) were down 4.8% during mid-day trading on Thursday . The stock traded as low as C$0.60 and last traded at C$0.60. Approximately 50,030 shares changed hands during trading, a decline of 31% from the average daily volume of 72,977 shares. The stock had previously closed at C$0.63.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$1.57 price objective on Loncor Gold and gave the company a “buy” rating in a research report on Thursday, January 30th.

Loncor Gold Trading Down 4.8 %

The company has a current ratio of 1.73, a quick ratio of 0.77 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average price is C$0.58 and its two-hundred day moving average price is C$0.50. The stock has a market capitalization of C$65.23 million, a P/E ratio of -2.01 and a beta of 1.16.

About Loncor Gold

Loncor Gold Inc, a gold exploration company, engages in the acquisition, exploration, and development of precious metal projects in the Ngayu greenstone belt in the northeast of the Democratic Republic of the Congo and Canada. It explores for gold and platinum deposits. The company holds 84.68% interest in the Adumbi project, which consist of two mining licenses covering an area of 361 square kilometers located within the Archaean Ngayu Greenstone Belt in the Ituri and Haut Uele provinces in northeastern Congo.