Logan Energy (CVE:LGN) Sets New 1-Year High – Still a Buy?

Logan Energy Corp. (CVE:LGN)’s share price reached a new 52-week high during trading 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.

Wall Street Analysts Forecast Growth

Several equities 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 report on Wednesday, September 30th. Scotiabank raised shares of Logan Energy to a “strong-buy” rating in a research 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 stock a “moderate buy” rating in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$1.38.

Logan Energy Stock Performance

The company has a 50 day simple moving average of C$1.18 and a two-hundred day simple moving average of C$1.01. The firm has a market cap of C$892.19 million, a PE ratio of 21.50 and a beta of -0.14.

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.