Loncor Gold (TSE:LN) Trading 4.3% Higher - Here's Why

Loncor Gold Inc. (TSE:LN - Get Free Report)'s stock price rose 4.3% on Monday . The company traded as high as C$0.80 and last traded at C$0.72. Approximately 689,813 shares were traded during mid-day trading, an increase of 448% from the average daily volume of 125,931 shares. The stock had previously closed at C$0.69.

Wall Street Analysts Forecast Growth

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

Loncor Gold Stock Performance

The stock has a market cap of C$96.76 million, a price-to-earnings ratio of -2.97 and a beta of 1.16. The firm's 50 day moving average is C$0.63 and its two-hundred day moving average is C$0.56. The company has a quick ratio of 0.77, a current ratio of 1.73 and a debt-to-equity ratio of 0.61.

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.