TD Asset Management Inc. cut its stake in Largo Inc. (NYSE:LGO – Get Rating) by 13.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,748 shares of the company’s stock after selling 4,656 shares during the quarter. TD Asset Management Inc.’s holdings in Largo were worth $157,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Sentry Investment Management LLC purchased a new stake in Largo in the third quarter worth about $36,000. Inscription Capital LLC bought a new stake in shares of Largo during the second quarter valued at approximately $68,000. Solidarilty Wealth LLC purchased a new stake in Largo in the second quarter worth $102,000. Bridgewater Associates LP bought a new position in Largo in the first quarter worth $131,000. Finally, Connectus Wealth LLC bought a new stake in shares of Largo during the 2nd quarter valued at $144,000. Institutional investors own 64.25% of the company’s stock.
Shares of LGO stock opened at $6.12 on Friday. The company has a market capitalization of $391.68 million, a price-to-earnings ratio of 27.82 and a beta of 2.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.75 and a current ratio of 2.96. Largo Inc. has a one year low of $4.75 and a one year high of $14.27. The company’s 50-day moving average is $5.75 and its 200 day moving average is $6.02.
Largo (NYSE:LGO – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). Largo had a net margin of 6.16% and a return on equity of 6.11%. The firm had revenue of $54.26 million for the quarter, compared to analysts’ expectations of $88.45 million. Sell-side analysts expect that Largo Inc. will post 0.19 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts recently issued reports on LGO shares. HC Wainwright lowered their price target on shares of Largo from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, January 25th. Noble Financial began coverage on shares of Largo in a report on Tuesday, February 7th. They set an “outperform” rating and a $11.00 target price for the company. Finally, TheStreet cut Largo from a “c” rating to a “d+” rating in a research report on Friday, November 25th.
Largo Profile
Largo Inc engages in the exploration and production of vanadium at the Maracas Menchen Mine located in Brazil. The firm mines and sells vanadium pentoxide flake, high purity vanadium pentoxide flake, and high purity vanadium pentoxide powder. It also focuses on the advancement of renewable energy storage solutions through its vanadium redox flow battery technology.
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