Logan Energy (CVE:LGN) Sets New 12-Month High – Here’s What Happened

Logan Energy Corp. (CVE:LGN) hit a new 52-week high on Wednesday . The company traded as high as C$0.98 and last traded at C$0.98, with a volume of 1305999 shares changing hands. The stock had previously closed at C$0.95.

Analysts Set New Price Targets

Several brokerages have issued reports on LGN. Canadian Imperial Bank of Commerce raised Logan Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. ATB Cormark Capital Markets raised shares of Logan Energy to a “moderate buy” rating in a research note on Tuesday, February 17th. Finally, Scotiabank upgraded shares of Logan Energy to a “strong-buy” rating in a report on Thursday, March 12th. Three analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat.com, Logan Energy presently has an average rating of “Strong Buy” and a consensus price target of C$1.21.

Logan Energy Price Performance

The stock has a market capitalization of C$698.49 million, a P/E ratio of 16.83 and a beta of 5.15. The stock has a 50 day moving average price of C$0.83 and a 200-day moving average price of C$0.82.

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.