Van ECK Associates Corp decreased its holdings in shares of Largo Inc. (NYSE:LGO – Get Rating) by 31.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,440 shares of the company’s stock after selling 11,302 shares during the period. Van ECK Associates Corp’s holdings in Largo were worth $310,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of LGO. Shell Asset Management Co. raised its stake in shares of Largo by 41.1% during the fourth quarter. Shell Asset Management Co. now owns 3,727 shares of the company’s stock worth $35,000 after buying an additional 1,085 shares during the last quarter. National Bank of Canada FI boosted its position in Largo by 61.3% during the first quarter. National Bank of Canada FI now owns 5,676 shares of the company’s stock valued at $72,000 after purchasing an additional 2,156 shares during the last quarter. 626 Financial LLC bought a new stake in Largo during the fourth quarter worth $150,000. TD Asset Management Inc. lifted its stake in Largo by 3.6% in the 4th quarter. TD Asset Management Inc. now owns 37,453 shares of the company’s stock valued at $348,000 after purchasing an additional 1,316 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC bought a new position in shares of Largo during the 1st quarter worth approximately $394,000.
LGO stock opened at $7.08 on Friday. Largo Inc. has a 12-month low of $6.28 and a 12-month high of $14.27. The firm has a market cap of $454.76 million, a PE ratio of 17.70 and a beta of 2.27. The business has a 50 day moving average of $7.05 and a 200-day moving average of $9.07. The company has a quick ratio of 1.98, a current ratio of 3.09 and a debt-to-equity ratio of 0.01.
Several analysts recently issued reports on LGO shares. CIBC downgraded Largo from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 15th. Royal Bank of Canada cut their price objective on Largo from C$23.00 to C$20.00 in a report on Monday, May 16th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Largo currently has a consensus rating of “Moderate Buy” and an average price target of $18.67.
About Largo
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
