Largo (TSE:LGO) Shares Down 6.1%

Largo Inc. (TSE:LGO – Get Rating) shares traded down 6.1% during trading on Monday . The stock traded as low as C$6.81 and last traded at C$6.90. 35,254 shares were traded during mid-day trading, a decline of 61% from the average session volume of 89,377 shares. The stock had previously closed at C$7.35.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a C$19.00 price target on shares of Largo in a research note on Friday, August 12th. Morgan Stanley reiterated an “equal weight” rating and issued a C$10.70 price target on shares of Largo in a research note on Friday, September 16th.
The company has a market capitalization of C$441.63 million and a price-to-earnings ratio of 23.00. The firm’s 50 day moving average price is C$7.65 and its two-hundred day moving average price is C$8.74. The company has a current ratio of 2.96, a quick ratio of 1.52 and a debt-to-equity ratio of 6.07.
About Largo
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.