Largo Resources (NYSE:LGO) Shares Gap Down to $11.32

Largo Resources Ltd. (NYSE:LGO)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $11.32, but opened at $11.00. Largo Resources shares last traded at $10.99, with a volume of 564 shares changing hands.

Several research firms have recently commented on LGO. Zacks Investment Research cut shares of Largo Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday. TheStreet cut shares of Largo Resources from a “c-” rating to a “d” rating in a report on Monday. Royal Bank of Canada reduced their price objective on shares of Largo Resources from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research note on Monday, August 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Largo Resources in a research note on Wednesday, July 21st. One analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $28.00.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.81 and a current ratio of 3.82. The firm’s 50 day simple moving average is $12.64. The firm has a market capitalization of $715.47 million and a price-to-earnings ratio of 33.69.

Largo Resources (NYSE:LGO) last released its quarterly earnings data on Tuesday, August 10th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.12). Largo Resources had a net margin of 13.44% and a return on equity of 8.96%. The business had revenue of $54.29 million during the quarter. As a group, research analysts expect that Largo Resources Ltd. will post 0.37 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in Largo Resources during the 2nd quarter worth $266,000. Marshall Wace North America L.P. acquired a new position in Largo Resources during the 2nd quarter worth $181,000. Morgan Stanley acquired a new position in Largo Resources during the 2nd quarter worth $5,939,000. 1832 Asset Management L.P. acquired a new position in Largo Resources during the 2nd quarter worth $1,426,000. Finally, Arias Resource Capital GP Ltd. acquired a new position in Largo Resources during the 2nd quarter worth $436,817,000.

About Largo Resources (NYSE:LGO)

Largo Resources Ltd. engages in the exploration and production of vanadium at the Maracas Menchen Mine located in Brazil. The firm mines and sells vanadium pentoxide flake, high purity vanadium pentoxide flake, and high purity vanadium pentoxide powder. It also focuses on the advancement of renewable energy storage solutions through its vanadium redox flow battery technology.

Featured Article: What is the yield curve?

Receive News & Ratings for Largo Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Largo Resources and related companies with MarketBeat.com's FREE daily email newsletter.