Largo Resources Ltd. (TSE:LGO)’s share price traded up 8.7% during mid-day trading on Wednesday . The company traded as high as C$20.14 and last traded at C$19.89. 135,901 shares were traded during mid-day trading, an increase of 7% from the average session volume of 127,516 shares. The stock had previously closed at C$18.30.
A number of equities research analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on Largo Resources to C$25.00 and gave the company an “outperform” rating in a research note on Wednesday, June 30th. CIBC restated an “outperform” rating and issued a C$25.00 price objective on shares of Largo Resources in a research note on Thursday, June 10th.
The business’s 50 day moving average price is C$18.48. The stock has a market cap of C$1.28 billion and a price-to-earnings ratio of 142.07. The company has a debt-to-equity ratio of 10.03, a current ratio of 8.53 and a quick ratio of 5.39.
In other Largo Resources news, Senior Officer Robert Ian Mitchell sold 15,000 shares of Largo Resources stock in a transaction dated Tuesday, June 22nd. The stock was sold at an average price of C$19.49, for a total transaction of C$292,423.50. Also, Director David Wallace Brace sold 11,500 shares of Largo Resources stock in a transaction dated Thursday, June 17th. The shares were sold at an average price of C$19.28, for a total value of C$221,688.95. Following the transaction, the director now directly owns 323,727 shares of the company’s stock, valued at approximately C$6,240,582.50.
About Largo Resources (TSE:LGO)
Largo Resources Ltd. operates as a natural resource development and exploration company in Brazil and Canada. It explores for vanadium, iron, tungsten, and molybdenum deposits. The company's principal operating asset is its 100% owned MaracÃ¡s Menchen mine covering an area of 17,690.5 hectares located in the eastern Bahia State of Brazil.
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