Largo https://beststocks.com/largo-inc-boosts-vanadium-production-and-laun/
Largo Inc Boosts Vanadium Production and Launches Ilmenite Plant in Green Energy Push
Excerpt
Largo Inc., a vanadium producer based in Toronto, has caught the attention of analysts as it aims to boost production of the sought-after battery metal and launch its new ilmenite plant. Vanadium is a crucial component in the green energy economy, and Largo is a key player in the western market. In Q1 of 2023, the company’s vanadium production results were at the higher end of its quarterly guidance, and its ilmenite plant is on track for completion this quarter, with production set to ramp up in Q3 and Q4. Largo produced 2,111 tonnes of vanadium pentoxide (V2O5) and sold 2,849 tons of V2O5 in Q1 of 2023. Analysts predict that demand for vanadium will continue to grow in the coming years. As a result, Gordon Lawson of Paradigm Capital has rated the stock a Buy, Michael Heim of Noble Capital Markets has rated it Outperform, and Rule Investment Media LLC CEO Rick Rule recently named it one of his top picks. The reference date for this information is June 5, 2023.
LGO Stock Analysis: Declining Earnings Growth and Lack of Profitability Raises Concerns
On June 5, 2023, LGO stock opened at 3.75, slightly lower than the previous day’s close of 3.82. Throughout the day, the stock fluctuated between a low of 3.74 and a high of 3.88, with a total volume of 2,240 shares traded.
LGO, a company in the non-energy minerals sector, specializes in other metals and minerals.
Despite a revenue growth of 15.62% last year, LGO’s earnings growth has been declining significantly. The company reported a negative earnings growth of 106.38% last year and a staggering negative earnings growth of 381.63% this year.
LGO’s net profit margin is -0.63%, indicating that the company is not profitable. Last year, LGO reported an annual revenue of $229.3M but had a net loss of $1.5M. The next reporting date for LGO is August 16, 2023, where it is expected to report an EPS of -$0.06.
In conclusion, LGO’s declining earnings growth and lack of profitability are concerning, and it remains to be seen whether LGO can turn its fortunes around in the future.
Largo Incs Stock Price Targeted at $10.00 by Analysts with a Buy Rating
On June 5, 2023, Largo Inc’s stock had a median target price of $10.00, according to the five analysts who offered 12-month price forecasts. The high estimate was $12.00, while the low estimate was $5.94. The median estimate represented a 158.40% increase from the previous day’s closing price of $3.87. The consensus among the five polled investment analysts was to buy stock in Largo Inc. This rating had remained steady since May, when it was unchanged from a buy rating.
Largo Inc is a company that specializes in the production and sale of vanadium, a metal used in the production of steel. The company’s recent financial performance has been encouraging. In the current quarter, Largo Inc reported earnings per share of -$0.06 and sales of $51.4 million. The company is set to report its earnings on August 16, 2023.
Investors who are bullish on Largo Inc’s prospects may be attracted to the company’s potential for growth. The high estimate of $12.00 suggests that the company’s stock could more than triple in value over the next 12 months. However, investors should be aware that the commodity market can be unpredictable, and Largo Inc’s stock price could be affected by factors beyond the company’s control.
Overall, Largo Inc’s stock performance on June 5, 2023, was promising, with a median target price of $10.00 and a buy rating from investment analysts. Investors should keep an eye on the company’s upcoming earnings report and monitor any developments in the commodity market that could affect the company’s stock price.