Loncor Gold (TSE:LN) Shares Up 1.6% – What’s Next?

Loncor Gold Inc. (TSE:LN)’s stock price rose 1.6% during trading on Thursday . The stock traded as high as C$1.30 and last traded at C$1.30. Approximately 868,785 shares changed hands during mid-day trading, an increase of 205% from the average daily volume of 284,410 shares. The stock had previously closed at C$1.28.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$1.70 target price on shares of Loncor Gold and gave the company a “buy” rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$1.70.

Loncor Gold Stock Up 1.6%

The firm has a market capitalization of C$228.92 million, a price-to-earnings ratio of -43.33 and a beta of 0.17. The company has a current ratio of 1.73, a quick ratio of 0.77 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average price of C$1.06 and a 200 day moving average price of C$0.78.

About Loncor Gold

Loncor Gold Inc is a gold exploration and project development company with projects in the North East of the DRC. Elements of management have had 25 years of exposure to the DRC. The company is focused on expanding the 3.66M oz Adumbi resource, 220kms from Africa’s largest gold producer, the Kibali Mine.