TD Asset Management Inc. cut its holdings in Largo Inc. (NYSE:LGO – Get Rating) by 10.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,404 shares of the company’s stock after selling 3,921 shares during the period. TD Asset Management Inc. owned 0.05% of Largo worth $228,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in LGO. National Bank of Canada FI increased its stake in shares of Largo by 61.3% in the first quarter. National Bank of Canada FI now owns 5,676 shares of the company’s stock worth $72,000 after purchasing an additional 2,156 shares during the period. 626 Financial LLC bought a new position in Largo during the second quarter valued at about $72,000. Bridgewater Associates LP bought a new position in Largo during the first quarter valued at about $131,000. Mackenzie Financial Corp bought a new position in Largo during the first quarter valued at about $187,000. Finally, Jane Street Group LLC increased its stake in Largo by 13.9% during the first quarter. Jane Street Group LLC now owns 15,171 shares of the company’s stock valued at $192,000 after acquiring an additional 1,849 shares during the period. 63.94% of the stock is currently owned by institutional investors.
NYSE LGO opened at $5.96 on Tuesday. The company has a current ratio of 3.09, a quick ratio of 1.98 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $5.99 and its two-hundred day moving average is $7.13. The company has a market capitalization of $381.47 million, a price-to-earnings ratio of 14.90 and a beta of 2.30. Largo Inc. has a 1-year low of $5.07 and a 1-year high of $14.27.
Largo (NYSE:LGO – Get Rating) last released its quarterly earnings data on Wednesday, August 10th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $84.80 million for the quarter, compared to the consensus estimate of $70.02 million. Largo had a return on equity of 10.42% and a net margin of 11.27%. Equities analysts forecast that Largo Inc. will post 0.17 earnings per share for the current fiscal year.
Analyst Ratings Changes
Separately, Royal Bank of Canada lowered their price target on Largo from C$20.00 to C$16.00 in a research note on Wednesday, September 14th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.33.
Largo Company Profile
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
