Research Analysts Issue Forecasts for Largo FY2024 Earnings

Largo Inc. (NYSE:LGO) – Research analysts at HC Wainwright decreased their FY2024 earnings estimates for Largo in a research report issued on Wednesday, November 13th. HC Wainwright analyst H. Ihle now forecasts that the company will post earnings of ($0.57) per share for the year, down from their prior forecast of ($0.44). HC Wainwright currently has a “Buy” rating and a $4.20 target price on the stock. The consensus estimate for Largo’s current full-year earnings is ($0.57) per share.

Largo Trading Down 3.9 %

NYSE LGO opened at $1.95 on Monday. The company has a market capitalization of $125.01 million, a PE ratio of -2.44 and a beta of 1.75. The company has a fifty day moving average of $2.01 and a 200 day moving average of $1.93. Largo has a 1 year low of $1.38 and a 1 year high of $2.84. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 1.23.

Largo (NYSE:LGO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The company had revenue of $29.91 million for the quarter. Largo had a negative net margin of 35.10% and a negative return on equity of 22.61%. During the same quarter in the previous year, the business earned ($0.19) earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in shares of Largo in the third quarter worth about $32,000. Renaissance Technologies LLC raised its position in shares of Largo by 19.9% in the second quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock worth $81,000 after acquiring an additional 7,300 shares during the period. Finally, Herr Investment Group LLC acquired a new position in shares of Largo in the second quarter worth about $370,000. 64.08% of the stock is currently owned by institutional investors and hedge funds.

About Largo

Largo Inc engages in the development and sale of vanadium-based energy storage systems in Canada. The company operates through, Sales & Trading, Mine Properties, Corporate, Exploration and Evaluation Properties, and Largo Clean Energy and Largo Physical Vanadium Segments. 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.