Loncor Gold (TSE:LN) Trading 17.4% Higher – Still a Buy?

Loncor Gold Inc. (TSE:LN) shares traded up 17.4% during mid-day trading on Friday . The stock traded as high as C$0.84 and last traded at C$0.81. 129,002 shares were traded during mid-day trading, a decline of 35% from the average session volume of 198,124 shares. The stock had previously closed at C$0.69.

Analyst Ratings Changes

Separately, Fundamental Research set a C$1.70 target price on shares of Loncor Gold and gave the company a “buy” rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$1.70.

Loncor Gold Price Performance

The company’s 50 day simple moving average is C$0.61 and its 200 day simple moving average is C$0.61. The company has a market capitalization of C$88.06 million, a PE ratio of -2.71 and a beta of 1.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.73 and a quick ratio of 0.77.

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.