Largo (NYSE:LGO – Get Rating) was downgraded by equities research analysts at TheStreet from a “c” rating to a “d+” rating in a report released on Friday, TheStreetRatingsTable reports.
Separately, Royal Bank of Canada cut their target price on Largo from C$20.00 to C$16.00 in a research report on Wednesday, September 14th.
Largo Price Performance
Shares of LGO stock opened at $5.12 on Friday. The stock has a 50 day moving average of $5.64 and a two-hundred day moving average of $6.79. The company has a current ratio of 2.96, a quick ratio of 1.75 and a debt-to-equity ratio of 0.01. Largo has a 12 month low of $4.75 and a 12 month high of $14.27. The company has a market capitalization of $327.67 million, a P/E ratio of 23.27 and a beta of 2.30.
Hedge Funds Weigh In On Largo
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Largo by 2.4% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,903,767 shares of the company’s stock worth $25,910,000 after buying an additional 112,818 shares during the period. Royal Bank of Canada raised its position in Largo by 911.0% in the 1st quarter. Royal Bank of Canada now owns 129,302 shares of the company’s stock valued at $1,642,000 after purchasing an additional 116,512 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Largo in the 2nd quarter valued at $834,000. Claybrook Capital LLC bought a new position in Largo in the 1st quarter valued at $1,261,000. Finally, Swiss National Bank raised its position in Largo by 8.7% in the 2nd quarter. Swiss National Bank now owns 92,110 shares of the company’s stock valued at $628,000 after purchasing an additional 7,400 shares during the last quarter. Institutional investors own 63.94% of the company’s stock.
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
