Loncor Gold (TSE:LN) Stock Price Up 3.7% – Here’s What Happened

Shares of Loncor Gold Inc. (TSE:LN) traded up 3.7% on Wednesday . The company traded as high as C$0.56 and last traded at C$0.56. 54,000 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 68,943 shares. The stock had previously closed at C$0.54.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$1.57 price target on Loncor Gold and gave the company a “buy” rating in a research note on Thursday, January 30th.

Loncor Gold Stock Performance

The company has a quick ratio of 0.77, a current ratio of 1.73 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of C$60.88 million, a P/E ratio of -1.87 and a beta of 1.16. The company’s 50 day moving average is C$0.56 and its 200-day moving average is C$0.48.

Loncor Gold Company Profile

Loncor Gold Inc, a gold exploration company, engages in the acquisition, exploration, and development of precious metal projects in the Ngayu greenstone belt in the northeast of the Democratic Republic of the Congo and Canada. It explores for gold and platinum deposits. The company holds 84.68% interest in the Adumbi project, which consist of two mining licenses covering an area of 361 square kilometers located within the Archaean Ngayu Greenstone Belt in the Ituri and Haut Uele provinces in northeastern Congo.