Logan Energy (CVE:LGN) Hits New 12-Month High – Here’s Why

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

Analyst Upgrades and Downgrades

LGN has been the subject of a number of analyst reports. ATB Cormark Capital Markets upgraded shares of Logan Energy to a “moderate buy” rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce upgraded Logan Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 11th. Finally, Scotiabank raised Logan Energy to a “strong-buy” rating in a research 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. According to data from MarketBeat.com, Logan Energy has a consensus rating of “Strong Buy” and an average target price of C$1.21.

Logan Energy Stock Up 3.2%

The firm’s fifty day moving average is C$0.83 and its two-hundred day moving average is C$0.82. The firm has a market cap of C$677.74 million, a P/E ratio of 16.33 and a beta of 5.15.

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.