Andrew Wong RBC Q1 Sales well above our estimates; 2023 guidance reiterated.
Outperform Pt CAD 10.00
Sentiment :Positive
Our View:We view Q1 results as positive given strong sales and production above our expectations.Q1 sales came in well ahead of expectations reflecting a strong spot market primarily due to higher than expected demand from the aerospace sector.We were also encouraged that the company is tracking in-line with its 2023 production and sales guidance.We continue to believe Largo has significant potential value that may be unlocked if the company can execute on plan, with several potential catalyst's upcoming in the next 12- months.