Logan Energy (CVE:LGN) Downgraded by ATB Cormark Capital Markets to Tender

Logan Energy (CVE:LGN) was downgraded by research analysts at ATB Cormark Capital Markets from an “outperform” rating to a “tender” rating in a note issued to investors on Tuesday, BayStreet reports. They presently have a C$1.50 target price on the stock. ATB Cormark Capital Markets‘s price target suggests a potential downside of 3.23% from the stock’s previous close.

Other research analysts have also issued reports about the company. Royal Bank Of Canada set a C$1.50 target price on Logan Energy and gave the company a “moderate buy” rating in a research report on Monday, August 10th. National Bank Financial set a C$1.75 target price on shares of Logan Energy and gave the stock an “outperform” rating in a research note on Wednesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$1.47.

Logan Energy Trading Up 0.6%

Shares of LGN stock traded up C$0.01 during trading hours on Tuesday, reaching C$1.55. 2,148,712 shares of the company’s stock were exchanged, compared to its average volume of 829,618. The stock’s 50 day moving average is C$1.20 and its 200-day moving average is C$0.97. The company has a market cap of C$1.07 billion, a price-to-earnings ratio of 25.83 and a beta of -0.14. Logan Energy has a fifty-two week low of C$0.74 and a fifty-two week high of C$1.59.

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.