Loncor Gold (TSE:LN) Trading Up 14% – Should You Buy?

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

Analyst Ratings Changes

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

Loncor Gold Price Performance

The company has a quick ratio of 0.77, a current ratio of 2.24 and a debt-to-equity ratio of 1.30. The company has a market cap of C$86.58 million, a price-to-earnings ratio of -2.95 and a beta of 1.16. The stock’s 50-day simple moving average is C$0.55 and its 200 day simple 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.