Loncor Gold (TSE:LN) Shares Up 3.7% - Should You Buy?

Loncor Gold Inc. (TSE:LN - Get Free Report) rose 3.7% on Wednesday . The company traded as high as C$0.56 and last traded at C$0.56. Approximately 54,000 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 68,943 shares. The stock had previously closed at C$0.54.

Wall Street Analyst Weigh In

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

Loncor Gold Price Performance

The business has a 50-day simple moving average of C$0.56 and a 200 day simple moving average of C$0.48. The firm has a market cap of C$66.32 million, a P/E ratio of -2.04 and a beta of 1.16. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.77 and a current ratio of 1.73.

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.