Research Analysts Issue Forecasts for Largo FY2024 Earnings

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

Largo Price Performance

NYSE LGO opened at $1.95 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.23 and a current ratio of 1.67. The firm’s 50 day moving average price is $2.01 and its 200-day moving average price is $1.93. Largo has a 52-week low of $1.38 and a 52-week high of $2.84. The company has a market cap of $125.01 million, a PE ratio of -2.44 and a beta of 1.75.

Largo (NYSE:LGO) last issued its earnings results on Tuesday, November 12th. The company reported ($0.16) EPS 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 return on equity of 22.61% and a negative net margin of 35.10%. During the same quarter in the previous year, the business posted ($0.19) earnings per share.

Hedge Funds Weigh In On Largo

A number of hedge funds and other institutional investors have recently modified their holdings of LGO. XTX Topco Ltd acquired a new stake in Largo in the third quarter valued at approximately $32,000. Herr Investment Group LLC acquired a new stake in Largo in the second quarter valued at approximately $370,000. Finally, Renaissance Technologies LLC boosted its stake in Largo by 19.9% in the second quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock valued at $81,000 after acquiring an additional 7,300 shares in the last quarter. 64.08% of the stock is currently owned by institutional investors.

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.