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The latest update is out from Loncor Gold ( (TSE:LN) ).
Loncor Gold Inc. announced multiple gold intersections from its deep drilling program at the Adumbi deposit, revealing promising results with significant mineralized zones. These findings, particularly from borehole LADD031, demonstrate the potential for substantial gold resources below the current open pit shell, which could enhance Loncor’s market position and attract stakeholder interest.
The most recent analyst rating on (TSE:LN) stock is a Buy with a C$1.70 price target. To see the full list of analyst forecasts on Loncor Gold stock, see the TSE:LN Stock Forecast page.
Spark’s Take on TSE:LN Stock
According to Spark, TipRanks’ AI Analyst, TSE:LN is a Underperform.
Loncor Gold’s stock score is primarily impacted by its financial instability, characterized by no revenue, rising losses, and negative cash flows. While technical analysis shows some potential for positive momentum, the company’s valuation remains poor with a negative P/E ratio. Notable corporate events highlight future growth potential but do not offset current financial challenges.
To see Spark’s full report on TSE:LN stock, click here.
More about Loncor Gold
Loncor Gold Inc. is a Canadian gold exploration company focused on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo. The company has over two decades of experience operating in the DRC and is primarily focused on its Imbo Project, where the Adumbi deposit holds significant mineral resources.
Average Trading Volume: 337,866
Technical Sentiment Signal: Buy
Current Market Cap: C$227.6M
See more insights into LN stock on TipRanks’ Stock Analysis page.