Loncor Gold (OTCMKTS:LONCF) Stock Price Down 5.1% - Time to Sell?

Key Points

• Loncor Gold Inc. shares fell by 5.1% on Thursday, trading as low as $0.77 before closing at $0.85, amidst a trading volume increase of 189% compared to its average daily volume.
• The company holds an 84.68% interest in the Adumbi project, which covers 361 square kilometers in the Ngayu greenstone belt of the Democratic Republic of the Congo.
• Loncor Gold has a market cap of $149.88 million and a PE ratio of -42.48, indicating potential profitability concerns.

Shares of Loncor Gold Inc. (OTCMKTS:LONCF - ) dropped 5.1% during mid-day trading on Thursday . The company traded as low as $0.77 and last traded at $0.85. Approximately 608,681 shares changed hands during mid-day trading, an increase of 189% from the average daily volume of 210,816 shares. The stock had previously closed at $0.90.

Loncor Gold Trading Down 5.1%

The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $0.63 and a 200-day moving average of $0.51. The stock has a market cap of $149.88 million, a PE ratio of -42.48 and a beta of 0.66.

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.

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