Largo (NYSE:LGO) PT Lowered to $17.00

Largo (NYSE:LGO – Get Rating) had its target price decreased by HC Wainwright from $19.00 to $17.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 187.16% from the company’s previous close.

Separately, TheStreet downgraded shares of Largo from a “c” rating to a “d+” rating in a research note on Friday, November 25th.

Largo Trading Down 5.0 %

NYSE:LGO opened at $5.92 on Wednesday. The company has a current ratio of 2.96, a quick ratio of 1.75 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $378.88 million, a PE ratio of 23.07 and a beta of 1.98. The firm’s 50 day moving average is $5.57 and its 200 day moving average is $6.07. Largo has a 12 month low of $4.75 and a 12 month high of $14.27.

Largo (NYSE:LGO – Get Rating) last released its quarterly earnings results on Wednesday, November 9th. The company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). Largo had a net margin of 6.16% and a return on equity of 6.11%. The firm had revenue of $54.26 million during the quarter, compared to analyst estimates of $88.45 million. Sell-side analysts expect that Largo will post 0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Grantham Mayo Van Otterloo & Co. LLC grew its stake in Largo by 10.5% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,790,949 shares of the company’s stock valued at $32,647,000 after acquiring an additional 456,965 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Largo during the second quarter valued at $834,000. Royal Bank of Canada raised its holdings in shares of Largo by 911.0% in the 1st quarter. Royal Bank of Canada now owns 129,302 shares of the company’s stock valued at $1,642,000 after purchasing an additional 116,512 shares in the last quarter. BTG Pactual Global Asset Management Ltd purchased a new position in Largo during the second quarter valued at approximately $274,000. Finally, ARS Investment Partners LLC purchased a new position in Largo during the fourth quarter valued at approximately $214,000. 64.25% of the stock is currently owned by institutional investors.

About Largo

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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.