Royal Bank Of Canada Lowers Largo (NYSE:LGO) Price Target To C$20.00
Largo (NYSE:LGO – Get Rating) had its price target lowered by equities researchers at Royal Bank of Canada from C$23.00 to C$20.00 in a research report issued to clients and investors on Monday, The Fly reports.
LGO has been the topic of a number of other reports. HC Wainwright lowered their target price on shares of Largo from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, February 4th. Zacks Investment Research cut shares of Largo from a “buy” rating to a “hold” rating in a research report on Friday, February 4th. Morgan Stanley cut shares of Largo from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 31st. CIBC reduced their price target on shares of Largo from C$21.50 to C$18.00 in a research report on Tuesday, January 18th. Finally, TheStreet upgraded shares of Largo from a “d” rating to a “c-” rating in a research report on Tuesday, March 1st. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Largo has an average rating of “Buy” and a consensus target price of $16.75.
LGO traded up $1.00 on Monday, reaching $9.03. The company had a trading volume of 7,453 shares, compared to its average volume of 131,895. The business has a 50 day simple moving average of $10.92 and a 200 day simple moving average of $10.19. The company has a market cap of $585.29 million and a price-to-earnings ratio of 36.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.75 and a current ratio of 3.84. Largo has a 52-week low of $6.77 and a 52-week high of $17.11.
Largo (NYSE:LGO – Get Rating) last announced its earnings results on Wednesday, March 16th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). The company had revenue of $50.33 million during the quarter, compared to analysts’ expectations of $51.22 million. Largo had a net margin of 8.24% and a return on equity of 7.30%. As a group, equities research analysts predict that Largo will post 0.86 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of LGO. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in Largo by 15.1% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,438,596 shares of the company’s stock worth $36,100,000 after acquiring an additional 449,868 shares during the period. West Family Investments Inc. lifted its stake in Largo by 42.9% in the fourth quarter. West Family Investments Inc. now owns 2,843,127 shares of the company’s stock worth $26,383,000 after acquiring an additional 853,765 shares during the period. Bank of New York Mellon Corp lifted its stake in Largo by 85.4% in the third quarter. Bank of New York Mellon Corp now owns 829,793 shares of the company’s stock worth $8,720,000 after acquiring an additional 382,300 shares during the period. Janus Henderson Group PLC purchased a new stake in Largo in the third quarter worth $4,315,000. Finally, Morgan Stanley purchased a new stake in Largo in the second quarter worth $5,939,000.
Largo Company Profile (Get Rating)
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
