Logan Energy (CVE:LGN) Reaches New 12-Month High – Still a Buy?

Shares of Logan Energy Corp. (CVE:LGN) reached a new 52-week high on Wednesday. The company traded as high as C$1.30 and last traded at C$1.29, with a volume of 186,307 shares trading hands. The stock had previously closed at C$1.28.

Analysts Set New Price Targets

Several research analysts have weighed in on LGN shares. National Bank Financial set a C$1.75 price target on Logan Energy and gave the stock an “outperform” rating in a research report on Wednesday, September 30th. Scotiabank raised Logan Energy to a “strong-buy” rating in a report on Friday, June 26th. Finally, Royal Bank Of Canada set a C$1.50 target price on shares of Logan Energy and gave the company a “moderate buy” rating in a research note on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, Logan Energy has an average rating of “Buy” and a consensus target price of C$1.38.

Logan Energy Stock Performance

The company has a market cap of C$899.10 million, a P/E ratio of 21.67 and a beta of -0.14. The business’s 50-day moving average price is C$1.18 and its 200 day moving average price is C$1.02.

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.