Cibc World Market Inc. Sells 31,237 Shares Of Largo Inc.
Cibc World Market Inc. lowered its stake in Largo Inc. (NYSE:LGO – Get Rating) by 59.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 21,585 shares of the company’s stock after selling 31,237 shares during the period. Cibc World Market Inc.’s holdings in Largo were worth $147,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. BTG Pactual Global Asset Management Ltd bought a new position in Largo in the second quarter valued at approximately $274,000. Swiss National Bank boosted its position in Largo by 8.7% in the second quarter. Swiss National Bank now owns 92,110 shares of the company’s stock valued at $628,000 after buying an additional 7,400 shares in the last quarter. Solidarilty Wealth LLC bought a new stake in shares of Largo during the second quarter worth $102,000. Connectus Wealth LLC acquired a new position in shares of Largo during the second quarter worth $144,000. Finally, Synergy Asset Management LLC lifted its stake in shares of Largo by 31.8% in the 2nd quarter. Synergy Asset Management LLC now owns 26,395 shares of the company’s stock valued at $180,000 after acquiring an additional 6,370 shares during the last quarter. Institutional investors and hedge funds own 63.94% of the company’s stock.
LGO opened at $5.55 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 1.75. Largo Inc. has a fifty-two week low of $4.75 and a fifty-two week high of $14.27. The company’s 50 day moving average price is $5.67 and its two-hundred day moving average price is $6.84. The firm has a market capitalization of $355.20 million, a price-to-earnings ratio of 25.23 and a beta of 2.30.
Wall Street Analysts Forecast Growth
Separately, Royal Bank of Canada reduced their price objective on Largo from C$20.00 to C$16.00 in a research report on Wednesday, September 14th.
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
