Research Analysts Set Expectations for Largo FY2024 Earnings

Largo Inc. (NYSE:LGO) – Research analysts at HC Wainwright dropped their FY2024 earnings per share (EPS) estimates for shares of Largo in a report issued on Wednesday, November 13th. HC Wainwright analyst H. Ihle now expects that the company will earn ($0.57) per share for the year, down from their previous 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 Up 4.6 %

NYSE:LGO opened at $2.04 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 0.81. The firm has a market capitalization of $130.79 million, a price-to-earnings ratio of -2.55 and a beta of 1.75. Largo has a one year low of $1.38 and a one year high of $2.84. The business has a fifty day moving average price of $2.03 and a 200-day moving average price of $1.94.

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

Institutional Investors Weigh In On Largo

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in Largo in the 3rd quarter worth $32,000. Renaissance Technologies LLC increased its stake in Largo by 19.9% in the 2nd quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock worth $81,000 after buying an additional 7,300 shares in the last quarter. Finally, Herr Investment Group LLC purchased a new stake in Largo in the 2nd quarter worth $370,000. Hedge funds and other institutional investors own 64.08% of the company’s stock.

Largo Company Profile

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.