Largo (NYSE:LGO – Get Rating) had its target price cut by analysts at Royal Bank of Canada from C$20.00 to C$16.00 in a research note issued on Wednesday, The Fly reports.
Separately, CIBC cut shares of Largo from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 15th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.33.
Largo Trading Down 4.2 %
Shares of LGO traded down $0.28 during midday trading on Wednesday, hitting $6.32. 902 shares of the stock were exchanged, compared to its average volume of 100,602. Largo has a 52-week low of $6.14 and a 52-week high of $14.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.98 and a current ratio of 3.09. The stock has a fifty day simple moving average of $6.92 and a 200 day simple moving average of $8.84. The firm has a market cap of $405.94 million, a P/E ratio of 15.80 and a beta of 2.24.
Largo (NYSE:LGO – Get Rating) last announced its earnings results on Wednesday, August 10th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $84.80 million during the quarter, compared to analysts’ expectations of $70.02 million. Largo had a return on equity of 10.42% and a net margin of 11.27%. On average, research analysts anticipate that Largo will post 0.55 EPS for the current fiscal year.
Institutional Investors Weigh In On Largo
Hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI increased its stake in shares of Largo by 61.3% during the first quarter. National Bank of Canada FI now owns 5,676 shares of the company’s stock worth $72,000 after buying an additional 2,156 shares during the period. 626 Financial LLC acquired a new stake in shares of Largo in the 2nd quarter valued at $72,000. Solidarilty Wealth LLC acquired a new stake in shares of Largo in the 2nd quarter valued at $102,000. Bridgewater Associates LP purchased a new stake in shares of Largo during the 1st quarter worth $131,000. Finally, Connectus Wealth LLC acquired a new position in shares of Largo during the second quarter worth $144,000. Institutional investors and hedge funds own 63.94% of the company’s stock.
About Largo (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
