Mackenzie Financial Corp decreased its position in Largo Inc. (NYSE:LGO – Get Rating) by 15.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,536 shares of the company’s stock after selling 2,207 shares during the period. Mackenzie Financial Corp’s holdings in Largo were worth $86,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LGO. National Bank of Canada FI raised its stake in Largo by 61.3% in the 1st quarter. National Bank of Canada FI now owns 5,676 shares of the company’s stock worth $72,000 after acquiring an additional 2,156 shares during the last quarter. Claybrook Capital LLC acquired a new stake in Largo during the 1st quarter worth about $1,261,000. Swiss National Bank grew its position in 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 period. Alpine Woods Capital Investors LLC acquired a new stake in Largo during the 1st quarter worth about $394,000. Finally, Bank of Montreal Can grew its position in Largo by 12.7% during the 1st quarter. Bank of Montreal Can now owns 20,439 shares of the company’s stock worth $257,000 after purchasing an additional 2,308 shares during the period. Hedge funds and other institutional investors own 63.94% of the company’s stock.
NYSE:LGO opened at $5.18 on Wednesday. Largo Inc. has a 52 week low of $4.75 and a 52 week high of $14.27. The company has a quick ratio of 1.75, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $331.55 million, a PE ratio of 23.55 and a beta of 2.30. The stock’s 50-day moving average price is $5.63 and its 200-day moving average price is $6.77.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Royal Bank of Canada cut their price target on Largo from C$20.00 to C$16.00 in a research report on Wednesday, September 14th. TheStreet downgraded Largo from a “c” rating to a “d+” rating in a research report on Friday, November 25th.
Largo 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
