Loncor Gold (TSE:LN) Trading Up 3.8% – Here’s Why

Loncor Gold Inc. (TSE:LN)’s stock price was up 3.8% during trading on Friday . The company traded as high as C$0.55 and last traded at C$0.54. Approximately 139,500 shares were traded during trading, an increase of 282% from the average daily volume of 36,537 shares. The stock had previously closed at C$0.52.

Wall Street Analysts Forecast Growth

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

Loncor Gold Price Performance

The company’s 50-day simple moving average is C$0.45 and its 200-day simple moving average is C$0.41. The stock has a market capitalization of C$83.49 million, a P/E ratio of -2.84 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.

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.