Largo Resources (TSE:LGO) Trading 8.7% Higher

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.

Largo Resources (TSE:LGO) last posted its earnings results on Wednesday, May 12th. The company reported C$0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.21 by C($0.12). The business had revenue of C$50.40 million during the quarter. On average, equities research analysts forecast that Largo Resources Ltd. will post 1.8890526 earnings per share for the current fiscal year.

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 Maracás Menchen mine covering an area of 17,690.5 hectares located in the eastern Bahia State of Brazil.

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