Synergy Asset Management LLC lessened its holdings in Largo Inc. (NYSE:LGO – Get Rating) by 10.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 20,577 shares of the company’s stock after selling 2,453 shares during the quarter. Synergy Asset Management LLC’s holdings in Largo were worth $191,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of Largo by 9.5% in the fourth quarter. Van ECK Associates Corp now owns 35,742 shares of the company’s stock worth $331,000 after buying an additional 3,097 shares during the period. National Bank of Canada FI acquired a new stake in shares of Largo in the fourth quarter worth $33,000. Bank of New York Mellon Corp boosted its position in shares of Largo by 85.4% in the third quarter. Bank of New York Mellon Corp now owns 829,793 shares of the company’s stock worth $8,720,000 after buying an additional 382,300 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Largo during the third quarter worth $4,315,000. Finally, Jane Street Group LLC purchased a new stake in shares of Largo during the third quarter worth $184,000.
NYSE LGO traded down $0.44 during trading on Tuesday, hitting $11.46. 8,521 shares of the company traded hands, compared to its average volume of 134,169. Largo Inc. has a 12 month low of $7.39 and a 12 month high of $18.71. The business has a fifty day simple moving average of $11.40 and a 200 day simple moving average of $10.52. The company has a current ratio of 3.84, a quick ratio of 2.75 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $741.95 million and a P/E ratio of 32.74.
Several brokerages recently issued reports on LGO. CIBC cut their price objective on Largo from C$21.50 to C$18.00 in a report on Tuesday, January 18th. Zacks Investment Research lowered Largo from a “buy” rating to a “hold” rating in a report on Friday, February 4th. TheStreet upgraded Largo from a “d” rating to a “c-” rating in a report on Tuesday, March 1st. Morgan Stanley lowered Largo from an “overweight” rating to an “equal weight” rating in a report on Monday, January 31st. Finally, HC Wainwright cut their price objective on Largo from $24.00 to $20.00 and set a “buy” rating for the company in a report on Friday, February 4th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $21.20.
Largo Company Profile (Get Rating)
Largo Inc engages in the development and sale of vanadium-based utility scale electrical energy storage systems in Canada. The company operates in five segments: Sales & Trading, Mine Properties, Corporate, Exploration and Evaluation Properties, and Largo Clean Energy. Its products include VPURE+ vanadium flakes that are used in the production of master alloys and aerospace applications; VPURE vanadium flakes ferrovanadium and vanadium carbon nitride for the steel industry; and VPURE+ vanadium powder for catalyst applications.
www.ferroalloynet.com
