H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Largo Resources (LGO) today and set a price target of $20.00. The company’s shares closed last Friday at $14.63.
According to TipRanks.com, Ihle is a top 25 analyst with an average return of 50.0% and a 70.8% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Northern Dynasty Minerals, and Golden Star Resources.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Largo Resources with a $21.70 average price target.
Based on Largo Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $39.8 million and net profit of $4.14 million. In comparison, last year the company earned revenue of $32.12 million and had a GAAP net loss of $8.59 million.
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Largo Resources Ltd. engages in the exploration and development of vanadium and tungsten projects in Brazil and Canada. It focuses in the production of vanadium flake, purity vanadium flake and purity vanadium powder. The firm also holds interest in the maracás vanadium, currais novos tungsten tailings and campo alegre de lourdes iron-vanadium projects; and in northern dancer tungsten-molybdenum property located in the Yukon Territory. The company was founded on April 18, 1988 and is headquartered in Toronto, Canada.
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