Loncor Gold (TSE:LN) Shares Down 14.3% - Here's Why

Loncor Gold Inc. (TSE:LN - Get Free Report)'s stock price dropped 14.3% on Thursday . The stock traded as low as C$0.59 and last traded at C$0.60. Approximately 336,215 shares changed hands during mid-day trading, an increase of 260% from the average daily volume of 93,281 shares. The stock had previously closed at C$0.70.

Wall Street Analysts Forecast Growth

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

Loncor Gold Price Performance

The business's fifty day moving average price is C$0.59 and its 200 day moving average price is C$0.53. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.73 and a quick ratio of 0.77. The stock has a market cap of C$65.23 million, a P/E ratio of -2.01 and a beta of 1.16.

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.