Van ECK Associates Corp trimmed its holdings in shares of Largo Inc. (NYSE:LGO – Get Rating) by 21.6% in the second quarter, Holdings Channel reports. The firm owned 19,153 shares of the company’s stock after selling 5,287 shares during the period. Van ECK Associates Corp’s holdings in Largo were worth $131,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alpine Woods Capital Investors LLC acquired a new stake in shares of Largo during the 1st quarter worth about $394,000. Russell Investments Group Ltd. acquired a new stake in shares of Largo during the 2nd quarter worth about $834,000. Claybrook Capital LLC acquired a new stake in shares of Largo during the 1st quarter worth about $1,261,000. Royal Bank of Canada increased its position in shares of Largo by 911.0% during the 1st quarter. Royal Bank of Canada now owns 129,302 shares of the company’s stock worth $1,642,000 after purchasing an additional 116,512 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Largo by 7.1% during the 1st quarter. Swiss National Bank now owns 84,710 shares of the company’s stock worth $1,072,000 after purchasing an additional 5,600 shares during the last quarter. 63.94% of the stock is owned by institutional investors and hedge funds.
Separately, Royal Bank of Canada dropped their target price on Largo from C$20.00 to C$16.00 in a research report on Wednesday, September 14th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.33.
Largo Stock Performance
NYSE LGO opened at $6.10 on Monday. The company has a market cap of $390.43 million, a P/E ratio of 15.25 and a beta of 2.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.09 and a quick ratio of 1.98. The stock has a 50-day moving average of $6.01 and a two-hundred day moving average of $7.16. Largo Inc. has a 1-year low of $5.07 and a 1-year high of $14.27.
Largo (NYSE:LGO – Get Rating) last posted its earnings results on Wednesday, August 10th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. The firm had revenue of $84.80 million during the quarter, compared to analysts’ expectations of $70.02 million. Largo had a return on equity of 10.42% and a net margin of 11.27%. As a group, analysts anticipate that Largo Inc. will post 0.17 EPS for the current year.
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
