Shares of Largo Inc. (NYSE:LGO – Get Rating) gapped down prior to trading on Tuesday . The stock had previously closed at $11.90, but opened at $11.51. Largo shares last traded at $11.49, with a volume of 706 shares traded.
A number of analysts have recently commented on the stock. CIBC cut their price objective on shares of Largo from C$21.50 to C$18.00 in a research report on Tuesday, January 18th. Morgan Stanley lowered shares of Largo from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 31st. Zacks Investment Research lowered shares of Largo from a “buy” rating to a “hold” rating in a research report on Friday, February 4th. TheStreet raised shares of Largo from a “d” rating to a “c-” rating in a research report on Tuesday, March 1st. Finally, HC Wainwright cut their price objective on shares of Largo from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, February 4th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Largo has a consensus rating of “Buy” and a consensus target price of $17.50.
The company has a debt-to-equity ratio of 0.01, a current ratio of 3.84 and a quick ratio of 2.75. The company’s 50-day simple moving average is $11.44 and its 200-day simple moving average is $10.53. The stock has a market capitalization of $716.06 million and a P/E ratio of 31.60.
Largo (NYSE:LGO – Get Rating) last posted its quarterly earnings results on Wednesday, March 16th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.13). Largo had a return on equity of 8.63% and a net margin of 11.38%. The firm had revenue of $50.33 million for the quarter, compared to the consensus estimate of $51.22 million. On average, analysts forecast that Largo Inc. will post 1.08 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Largo by 15.1% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,438,596 shares of the company’s stock valued at $36,100,000 after purchasing an additional 449,868 shares during the period. West Family Investments Inc. raised its position in shares of Largo by 42.9% in the fourth quarter. West Family Investments Inc. now owns 2,843,127 shares of the company’s stock valued at $26,383,000 after purchasing an additional 853,765 shares during the period. Bank of New York Mellon Corp raised its position in shares of Largo by 85.4% in the third quarter. Bank of New York Mellon Corp now owns 829,793 shares of the company’s stock valued at $8,720,000 after purchasing an additional 382,300 shares during the period. Janus Henderson Group PLC bought a new position in shares of Largo in the third quarter valued at about $4,315,000. Finally, Morgan Stanley bought a new position in shares of Largo in the second quarter valued at about $5,939,000.
About Largo (NYSE:LGO)
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
