Loncor Gold (TSE:LN) Shares Down 4.8% – Here’s What Happened

Loncor Gold Inc. (TSE:LN) fell 4.8% during trading on Thursday . The stock traded as low as C$0.60 and last traded at C$0.60. 50,030 shares were traded during mid-day trading, a decline of 31% from the average session volume of 72,977 shares. The stock had previously closed at C$0.63.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$1.57 target price 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 stock has a market cap of C$65.23 million, a PE ratio of -2.01 and a beta of 1.16. The business has a fifty day simple moving average of C$0.58 and a two-hundred day simple moving average of C$0.50. The company has a current ratio of 1.73, a quick ratio of 0.77 and a debt-to-equity ratio of 0.61.

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.