Largo (NYSE:LGO – Get Rating) had its target price reduced by CIBC from C$18.00 to C$16.00 in a research report issued to clients and investors on Wednesday, The Fly reports.
Several other research firms have also commented on LGO. TheStreet raised shares of Largo from a “d” rating to a “c-” rating in a research note on Tuesday, March 1st. HC Wainwright decreased their target price on shares of Largo from $24.00 to $20.00 and set a “buy” rating for the company in a report on Friday, February 4th. Royal Bank of Canada decreased their target price on shares of Largo from C$23.00 to C$20.00 in a report on Monday. Zacks Investment Research cut shares of Largo from a “buy” rating to a “hold” rating in a report on Friday, February 4th. Finally, Morgan Stanley cut shares of Largo from an “overweight” rating to an “equal weight” rating in a report on Monday, January 31st. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $16.25.
Largo stock traded down $0.10 during trading hours on Wednesday, reaching $9.35. The stock had a trading volume of 6,081 shares, compared to its average volume of 119,376. The stock has a market cap of $606.07 million and a PE ratio of 36.96. Largo has a 52 week low of $6.77 and a 52 week high of $17.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.58 and a quick ratio of 2.28. The company has a fifty day simple moving average of $10.79 and a 200-day simple moving average of $10.15.
Largo (NYSE:LGO – Get Rating) last announced its quarterly earnings results on Wednesday, March 16th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). The firm had revenue of $50.33 million during the quarter, compared to the consensus estimate of $51.22 million. Largo had a return on equity of 7.14% and a net margin of 8.24%. Research analysts predict that Largo will post 0.86 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of LGO. Bank of America Corp DE bought a new position in shares of Largo in the second quarter worth approximately $178,000. Citadel Advisors LLC bought a new position in shares of Largo in the second quarter worth approximately $578,000. Morgan Stanley bought a new position in shares of Largo in the second quarter worth approximately $5,939,000. Swiss National Bank boosted its position in shares of Largo by 11.1% in the third quarter. Swiss National Bank now owns 79,110 shares of the company’s stock worth $827,000 after purchasing an additional 7,900 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted 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 worth $36,100,000 after purchasing an additional 449,868 shares during the period.
Largo Company Profile (Get Rating)
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
