Loncor Gold (TSE:LN) Shares Down 4.8% – What’s Next?

Loncor Gold Inc. (TSE:LN) shares dropped 4.8% during trading on Thursday . The stock traded as low as C$0.60 and last traded at C$0.60. Approximately 50,030 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 72,977 shares. The stock had previously closed at C$0.63.

Wall Street Analysts Forecast Growth

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

Loncor Gold Stock Performance

The firm has a 50 day simple moving average of C$0.58 and a 200 day simple moving average of C$0.50. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.77 and a current ratio of 1.73. The firm has a market cap of C$65.23 million, a P/E ratio of -2.01 and a beta of 1.16.

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.