What is HC Wainwright’s Forecast for Largo FY2024 Earnings?

Largo Inc. (NYSE:LGO) – Analysts at HC Wainwright lowered their FY2024 EPS estimates for Largo in a report released on Wednesday, February 12th. HC Wainwright analyst H. Ihle now expects that the company will post earnings of ($0.61) per share for the year, down from their previous estimate of ($0.57). HC Wainwright has a “Buy” rating and a $3.70 price objective on the stock. The consensus estimate for Largo’s current full-year earnings is ($0.57) per share. HC Wainwright also issued estimates for Largo’s FY2025 earnings at $0.01 EPS.

Largo Trading Down 2.7 %

NYSE LGO opened at $1.81 on Monday. Largo has a twelve month low of $1.38 and a twelve month high of $2.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.67. The stock has a market cap of $116.04 million, a price-to-earnings ratio of -2.26 and a beta of 1.70. The firm’s 50 day moving average price is $1.82 and its two-hundred day moving average price is $1.92.

Hedge Funds Weigh In On Largo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in Largo during the 3rd quarter worth approximately $32,000. Virtu Financial LLC purchased a new position in shares of Largo during the 4th quarter valued at $39,000. Finally, Sprott Inc. grew its holdings in shares of Largo by 156.8% during the 4th quarter. Sprott Inc. now owns 1,016,809 shares of the company’s stock valued at $1,749,000 after acquiring an additional 620,909 shares in the last quarter. 64.08% of the stock is currently owned by hedge funds and other 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.