TD Asset Management Inc. decreased its holdings in Largo Resources Ltd. (NYSE:LGO) by 9.4% in the third quarter. The firm owned 36,137 shares of the company’s stock after selling 3,733 shares during the period. TD Asset Management Inc.’s holdings in Largo Resources were worth $379,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of Largo Resources by 9.1% in the 3rd quarter. Van ECK Associates Corp now owns 32,645 shares of the company’s stock valued at $343,000 after purchasing an additional 2,730 shares in the last quarter. Shell Asset Management Co. bought a new stake in Largo Resources during the 2nd quarter valued at $43,000. Steward Partners Investment Advisory LLC bought a new stake in Largo Resources during the 2nd quarter valued at $92,000. Rockefeller Capital Management L.P. bought a new stake in Largo Resources during the 2nd quarter valued at $101,000. Finally, Swiss National Bank raised its holdings in Largo Resources by 11.1% during the 3rd quarter. Swiss National Bank now owns 79,110 shares of the company’s stock valued at $827,000 after buying an additional 7,900 shares during the last quarter.
Shares of NYSE:LGO opened at $8.70 on Friday. The firm’s 50 day moving average price is $9.68 and its 200-day moving average price is $11.97. Largo Resources Ltd. has a twelve month low of $7.86 and a twelve month high of $18.71. The company has a quick ratio of 2.87, a current ratio of 3.98 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $563.12 million and a PE ratio of 18.91.
Largo Resources (NYSE:LGO) last issued its quarterly earnings data on Wednesday, November 10th. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.10). Largo Resources had a return on equity of 11.15% and a net margin of 15.07%. The business had revenue of $53.86 million during the quarter. Analysts expect that Largo Resources Ltd. will post 0.29 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on LGO shares. Zacks Investment Research upgraded shares of Largo Resources from a “hold” rating to a “strong-buy” rating and set a $10.00 price target for the company in a report on Wednesday, January 5th. HC Wainwright reissued a “buy” rating and set a $23.00 price objective on shares of Largo Resources in a research report on Friday, November 12th. Royal Bank of Canada dropped their price target on shares of Largo Resources from C$24.00 to C$23.00 and set an “outperform” rating on the stock in a report on Friday, November 12th. CIBC dropped their price target on shares of Largo Resources from C$21.50 to C$18.00 in a report on Tuesday. Finally, TheStreet downgraded shares of Largo Resources from a “c-” rating to a “d” rating in a report on Monday, October 11th. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $22.00.
Largo Resources 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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