Undervalued Shareholders hold more equity value in Largo’s assets than the current value of the market cap by a significant margin. This firm is priced for doom and gloom, but I see why price targets are firm. Vanadium prices and China’s rut have gifted this buying opportunity to investors. Buying shares here are literally on discount with a price/book ratio of just 0.47. That means that you are buying an undervalued stock. Ilmenite revenue will supplement revenues until V prices return. VRFB uptake is increasing worldwide, and every GWh increases V demand by 5%.