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

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Canadian Imperial Bank of Commerce upgraded shares of Logan Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 11th. ATB Cormark Capital Markets upgraded Logan Energy to a “moderate buy” rating in a report on Tuesday, February 17th. Finally, Scotiabank raised Logan Energy to a “strong-buy” rating in a research note on Thursday, March 12th. Three equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat, Logan Energy has a consensus rating of “Strong Buy” and an average price target of C$1.21.

Logan Energy Stock Up 3.2%

The stock has a market cap of C$677.74 million, a P/E ratio of 16.33 and a beta of 5.15. The firm’s fifty day moving average price is C$0.83 and its 200-day moving average price is C$0.82.

Logan Energy Company Profile

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.