Loncor Gold (TSE:LN) Shares Up 7.7% – Still a Buy?

Loncor Gold Inc. (TSE:LN)’s share price traded up 7.7% during mid-day trading on Wednesday . The stock traded as high as C$0.43 and last traded at C$0.42. 34,000 shares traded hands during trading, an increase of 15% from the average session volume of 29,594 shares. The stock had previously closed at C$0.39.

Analyst Ratings Changes

Separately, Fundamental Research set a C$0.80 price objective on shares of Loncor Gold and gave the stock a “buy” rating in a research note on Tuesday, September 17th.

Loncor Gold Trading Up 7.7 %

The company has a market capitalization of C$64.94 million, a P/E ratio of -2.21 and a beta of 1.14. The business has a 50 day moving average price of C$0.38 and a 200 day moving average price of C$0.38. The company has a current ratio of 2.24, a quick ratio of 0.77 and a debt-to-equity ratio of 1.30.

Loncor Gold (TSE:LN) last announced its quarterly earnings results on Tuesday, August 13th. The company reported C($0.01) earnings per share for the quarter.

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.