Loncor Gold (TSE:LN) Trading Down 0.7% – Should You Sell?

Loncor Gold Inc. (TSE:LN)’s share price dropped 0.7% during mid-day trading on Wednesday . The stock traded as low as C$1.32 and last traded at C$1.33. Approximately 126,890 shares traded hands during trading, a decline of 28% from the average daily volume of 175,169 shares. The stock had previously closed at C$1.34.

Loncor Gold Stock Down 0.7%

The firm’s fifty day simple moving average is C$1.33 and its two-hundred day simple moving average is C$1.10. The company has a current ratio of 1.73, a quick ratio of 0.77 and a debt-to-equity ratio of 0.61. The company has a market capitalization of C$241.38 million, a price-to-earnings ratio of -44.33 and a beta of -0.14.

Loncor Gold (TSE:LN) last announced its quarterly earnings results on Thursday, November 13th. The company reported C($0.01) earnings per share (EPS) for the quarter.

Loncor Gold Company Profile

Loncor Gold Inc is a gold exploration and project development company with projects in the North East of the DRC. Elements of management have had 25 years of exposure to the DRC. The company is focused on expanding the 3.66M oz Adumbi resource, 220kms from Africa’s largest gold producer, the Kibali Mine. In December 2021 a PEA on Adumbi produced an NPV@5% of US$624M after tax using US$1600/oz. Loncor owns 84.68% of Adumbi, the DRC Government owns 10% with a mining permit already in place.