Logan Energy (CVE:LGN) Reaches New 52-Week High – Should You Buy?

Logan Energy Corp. (CVE:LGN) shares reached a new 52-week high on Thursday . The company traded as high as C$1.20 and last traded at C$1.20, with a volume of 270759 shares traded. The stock had previously closed at C$1.18.

Wall Street Analyst Weigh In

LGN has been the subject of several research analyst reports. Scotiabank raised Logan Energy to a “strong-buy” rating in a research note on Friday, June 26th. National Bank Financial boosted their target price on Logan Energy from C$1.50 to C$1.75 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada set a C$1.50 target price on Logan Energy and gave the company a “moderate buy” rating in a report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$1.38.

Logan Energy Price Performance

The company has a market cap of C$823.03 million, a price-to-earnings ratio of 19.83 and a beta of -0.02. The business’s 50-day simple moving average is C$1.04 and its 200-day simple moving average is C$0.95.

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.