Largo (NYSE:LGO) Coverage Initiated at Maxim Group

Equities research analysts at Maxim Group began coverage on shares of Largo (NYSE:LGO) in a note issued to investors on Friday, MarketBeat reports. The firm set a “buy” rating and a $1.50 price target on the stock. Maxim Group’s price target indicates a potential upside of 141.86% from the company’s current price.

Several other brokerages also recently weighed in on LGO. National Bank Financial set a $2.40 target price on shares of Largo in a research note on Tuesday, July 7th. HC Wainwright decreased their price target on shares of Largo from $2.80 to $2.40 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $2.10.

Largo Stock Down 2.1%

Shares of LGO opened at $0.62 on Friday. The stock has a market capitalization of $63.96 million, a PE ratio of -0.78 and a beta of 1.47. Largo has a 1 year low of $0.59 and a 1 year high of $2.70. 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 company’s 50-day simple moving average is $0.78 and its 200-day simple moving average is $1.13.

Institutional Trading of Largo

Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in Largo by 19.6% in the first quarter. Bank of America Corp DE now owns 497,135 shares of the company’s stock valued at $557,000 after acquiring an additional 81,550 shares in the last quarter. Royal Bank of Canada increased its position in shares of Largo by 3,192.4% in the 1st quarter. Royal Bank of Canada now owns 60,614 shares of the company’s stock valued at $68,000 after purchasing an additional 58,773 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Largo by 631.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,293,300 shares of the company’s stock valued at $1,448,000 after purchasing an additional 1,116,534 shares during the last quarter. Brooklands Fund Management Ltd raised its holdings in shares of Largo by 623.9% in the 1st quarter. Brooklands Fund Management Ltd now owns 760,119 shares of the company’s stock valued at $851,000 after purchasing an additional 655,119 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Largo in the 1st quarter valued at $28,000. Institutional investors and hedge funds own 64.08% of the company’s stock.

About Largo

Largo Inc (NYSE:LGO) is a diversified resources and digital asset company that provides investors with exposure to both critical battery metals and bitcoin through publicly traded vehicles. The combined platform integrates specialty metals operations with a physical bitcoin trust, reflecting the company’s strategy to offer participation in traditional commodities and emerging digital assets.

The metals division focuses on the production and sale of high-purity nickel and cobalt sulfate used in electric vehicle batteries and energy storage systems.