RE:Another Viewretiredcf wrote: Oil and gas prices are on the rise with almost all E&P companies in the field, however, LGN continues to drift lower. Why?
As a spin out (from Spartan) many shareholders got LGN shares and did not know the company well, and may have sold their 'free' shares. It also raised money which may have pressured shares. But its decline this year is not really that out of line with the sector. Operationally, it is doing fine, with production up 39%. Net backs rose 116%. The balance sheet is strong and cash flow solid. There are cheaper stocks (it is 6X cash flow) in the sector, and its small size may hold off big investors. But we would still consider it of decent quality for a mid cap play. (5iResearch)
Thanks for that info! I added more on Thursday and also Friday. Pretty good sized position now. at just over 2% GLTA