Logan Energy (CVE:LGN) Reaches New 12-Month High – Here’s Why

Shares of Logan Energy Corp. (CVE:LGN) reached a new 52-week high on Thursday. The company traded as high as C$1.30 and last traded at C$1.26, with a volume of 275,927 shares trading hands. The stock had previously closed at C$1.25.

Analyst Ratings Changes

Several brokerages have issued reports on LGN. Royal Bank Of Canada set a C$1.50 price objective on Logan Energy and gave the company a “moderate buy” rating in a research report on Monday, August 10th. National Bank Financial set a C$1.75 target price on Logan Energy and gave the stock an “outperform” rating in a report on Wednesday, September 30th. Finally, Scotiabank upgraded Logan Energy to a “strong-buy” rating in a research note on Friday, June 26th. Two equities research 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, Logan Energy currently has an average rating of “Buy” and a consensus price target of C$1.38.

Logan Energy Stock Performance

The company has a market cap of C$881.81 million, a price-to-earnings ratio of 21.25 and a beta of -0.14. The firm’s 50-day moving average price is C$1.15 and its 200 day moving average price is C$1.00.

Logan Energy Company Profile

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.