Loncor Gold (TSE:LN) Stock Price Up 14% – What’s Next?

Loncor Gold Inc. (TSE:LN)’s stock price rose 14% during mid-day trading on Wednesday . The stock traded as high as C$0.57 and last traded at C$0.57. Approximately 107,921 shares traded hands during mid-day trading, an increase of 62% from the average daily volume of 66,553 shares. The stock had previously closed at C$0.50.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$1.57 price target on shares of Loncor Gold and gave the stock a “buy” rating in a report on Thursday, January 30th.

Loncor Gold Price Performance

The company has a market capitalization of C$86.58 million, a P/E ratio of -2.95 and a beta of 1.16. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.24 and a quick ratio of 0.77. The firm’s 50-day moving average is C$0.55 and its 200-day moving average is C$0.46.

About Loncor Gold

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.