Loncor Gold (TSE:LN) Stock Price Down 1.6% - Here's What Happened

Key Points

• Loncor Gold Inc. (TSE:LN) experienced a stock price decline of 1.6%, trading as low as C$1.21 before bouncing back to C$1.25 with a notable increase in trading volume.
• Analysts have set a target price of C$1.70 for Loncor Gold, maintaining a "buy" rating, with the stock currently holding an average rating of "Buy" across analyst evaluations.
• Loncor Gold specializes in gold exploration in the DRC and is focused on expanding its resource base, including a significant 3.66 million oz Adumbi resource located near the Kibali Mine.

Loncor Gold Inc. (TSE:LN - Get Free Report) shares dropped 1.6% during mid-day trading on Wednesday . The stock traded as low as C$1.21 and last traded at C$1.25. Approximately 254,855 shares changed hands during trading, an increase of 20% from the average daily volume of 211,562 shares. The stock had previously closed at C$1.27.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$1.70 target price on shares of Loncor Gold and gave the stock a "buy" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Loncor Gold has an average rating of "Buy" and an average target price of C$1.70.

Loncor Gold Stock Performance

The firm's 50 day simple moving average is C$0.86 and its 200-day simple moving average is C$0.70. 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 company has a market cap of C$220.12 million, a price-to-earnings ratio of -41.67 and a beta of 0.17.

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.

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