Logan Energy (CVE:LGN) Sets New 52-Week High – Time to Buy?

Logan Energy Corp. (CVE:LGN)’s share price hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as C$1.27 and last traded at C$1.27, with a volume of 208146 shares trading hands. The stock had previously closed at C$1.16.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LGN. National Bank Financial set a C$1.75 target price on Logan Energy and gave the stock an “outperform” rating in a research note on Wednesday, September 30th. Scotiabank upgraded shares of Logan Energy to a “strong-buy” rating in a report on Friday, June 26th. Finally, Royal Bank Of Canada set a C$1.50 price objective on shares of Logan Energy and gave the stock a “moderate buy” rating in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat.com, Logan Energy has a consensus rating of “Buy” and an average target price of C$1.38.

Logan Energy Trading Up 4.1%

The company has a market capitalization of C$871.44 million, a P/E ratio of 21.00 and a beta of -0.14. The company’s fifty day moving average is C$1.12 and its 200 day moving average is C$0.99.

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.