Loncor Gold (TSE:LN) Stock Price Up 1.1% - Here's What Happened

Key Points

• Loncor Gold (TSE:LN) experienced a 1.1% increase in share price, closing at C$0.89 after trading as high as C$0.95.
• The company's stock has a market cap of C$156.72 million and a consensus target price of C$1.70, with a "buy" rating from analysts.
• Loncor Gold focuses on gold exploration and project development in the DRC, aiming to expand its 3.66M oz Adumbi resource located near the Kibali Mine.

Loncor Gold Inc. (TSE:LN - Get Free Report)'s share price rose 1.1% on Tuesday . The company traded as high as C$0.95 and last traded at C$0.89. Approximately 270,718 shares traded hands during trading, an increase of 38% from the average daily volume of 196,023 shares. The stock had previously closed at C$0.88.

Wall Street Analysts Forecast Growth

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

Loncor Gold Stock Up 1.1%

The stock has a market cap of C$156.72 million, a P/E ratio of -29.67 and a beta of -0.15. 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's fifty day moving average is C$0.70 and its 200 day moving average is C$0.65.

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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